By L’Economiste | 09/20/2024 – 20:12 | Share
The European Bank for Reconstruction and Development (EBRD) is providing a €15 million loan to Tuyauto, a Moroccan family-owned automotive supplier, for the construction of a new green manufacturing plant near Rabat. This investment is part of an initiative supported by the European Union through an unfunded first loss guarantee. The new plant, which is EDGE certified, aims to meet growing demand from car manufacturers such as Stellantis.
The financing will also enable Tuyauto to acquire new stamping equipment and strengthen its export-oriented value chain. This project is an important step in the transition to more sustainable transportation in Morocco, a country that has established itself as a global player in the automotive industry, accounting for 25% of national exports and supporting more than 200,000 jobs.
Tuyauto, active in the automotive sector since the 1960s, specializes in the production of stamped metal parts and other essential components for vehicles. Since its arrival in Morocco in 2012, the EBRD has invested more than €4.7 billion in 105 projects, strengthening the development of the country’s industrial infrastructure.
M.Ba.
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