عربي English Türkçe اردو فارسى
Logo
Latest News
Business

China’s Hailiang, Shinzoom to Build Auto Battery Plants in Morocco 

The Mohammed VI Tower in Rabat. (AFP)
The Mohammed VI Tower in Rabat. (AFP)
TT
TT

China’s Hailiang, Shinzoom to Build Auto Battery Plants in Morocco 

The Mohammed VI Tower in Rabat. (AFP)
The Mohammed VI Tower in Rabat. (AFP)

Chinese auto battery manufacturers Hailiang and Shinzoom will set up two separate plants in Morocco, as the country seeks to adapt its growing automotive sector to increasing demand for electric vehicles, Moroccan officials said on Tuesday.

Authorities in charge of developing the Moroccan northern industrial zone, Tanger Tech, said Hailiang plans to build a copper plant worth $450 million on an area of 30 hectares.

Shinzoom, part of Hunan Zhongke, will invest $460 million in an anodes plant spanning over 20 hectares, they said in a statement.

In April, the Moroccan government gave the green light for Chinese electric battery maker BTR New Material Group to build a factory near Tangier to produce key component cathodes.

Another Chinese manufacturer, CNGR Advanced Material, is expected to build a cathode plant in Jorf Lasfar, 100 kilometers south of Casablanca, where the government has allocated 283 hectares to electric battery industries.

Last year, the Moroccan government and China's Gotion agreed to look into setting up an electric vehicle battery plant in the kingdom with up to $6.3 billion in eventual investment.

Industry minister Ryad Mezzour told Reuters last month the Gotion project was advancing with discussions on the footprint and location.

Chinese firms are lured by Morocco's geographic location on the Strait of Gibraltar, its free trade agreements with key EU and US markets and its existing automotive industry cluster.

The automotive sector topped Morocco's industrial exports at $14 billion in 2023, up 27%.

Morocco is home to production plants by Stellantis and Renault with an annual combined production capacity of 700,000 cars as well as a cluster of local suppliers.

Most Viewed

 
 
Business

Egypt’s Tourism Minister: We’ve Agreed on Future Initiatives with Saudi Arabia

A glimpse of the visit by the Egyptian Minister of Tourism and Antiquities and his accompanying delegation to the UNWTO office in Saudi Arabia (Asharq Al-Awsat)
A glimpse of the visit by the Egyptian Minister of Tourism and Antiquities and his accompanying delegation to the UNWTO office in Saudi Arabia (Asharq Al-Awsat)
TT
TT

Egypt’s Tourism Minister: We’ve Agreed on Future Initiatives with Saudi Arabia

A glimpse of the visit by the Egyptian Minister of Tourism and Antiquities and his accompanying delegation to the UNWTO office in Saudi Arabia (Asharq Al-Awsat)
A glimpse of the visit by the Egyptian Minister of Tourism and Antiquities and his accompanying delegation to the UNWTO office in Saudi Arabia (Asharq Al-Awsat)

Egyptian Tourism Minister Sherif Fathy told Asharq Al-Awsat that he and Saudi Tourism Minister Ahmed Al-Khateeb have agreed to collaborate on several tourism initiatives.

These include joint marketing efforts, shared tourism programs, environmental protection measures, and promoting specific types of tourism in the Red Sea.

Fathy recently visited Riyadh, where he met with Al-Khateeb and engaged with Saudi business leaders. They discussed ways to promote tourism between their countries and increase visitor exchanges.

During his visit to the United Nations World Tourism Organization (UNWTO) regional office in Riyadh, Fathy stated that the office’s presence in Saudi Arabia enhances the organization’s work in the region and improves communication with other countries.

He confirmed that they plan to develop and implement the agreed initiatives in the near future.

Fathy highlighted that the Middle East is a key player in global tourism and deserves a dedicated office to support all countries in the region. This effort aims to boost collaboration and promote the Middle East as a top destination for travelers.

Tourism, National Economy: A Path to Sustainable Growth

Samer Al-Kharashi, Director of the UNWTO regional office for the Middle East, stated that the office supports 13 countries in the region, with Egypt being a key member.

He highlighted that the recent visit by Egypt’s Minister of Tourism and Antiquities, who serves as Vice President of the regional committee, creates opportunities for collaboration.

This partnership aims to boost tourism’s role in the national economy, create jobs, and promote sustainable practices that protect the environment.

Speaking to Asharq Al-Awsat, Al-Kharashi emphasized the potential for cooperation with Egypt, which has a rich tourism history and many ancient sites. He noted that the regional office has the expertise to assist member countries.

Al-Kharashi expressed optimism about the discussions, which covered various opportunities for joint projects that would benefit both Egypt and the wider region.

Strengthening Bilateral Relations

Fathy’s visit to the UNWTO regional office aims to enhance bilateral relations, as Cairo actively seeks to develop its tourism sector through international collaboration.

During their meeting, Fathy and Al-Kharashi addressed key issues facing Egypt’s tourism sector, including challenges and growth opportunities. They explored future cooperation, particularly in tourism training, improving services, and increasing investments.

Egypt ranks first in Africa, fifth in the Middle East, and 63rd globally on the Travel and Tourism Development Index.

The UNWTO regional office in Riyadh is the first of its kind outside the organization’s headquarters, dedicated to supporting member states in the Middle East.

The office focuses on promoting tourism education, improving infrastructure, and fostering sustainable tourism while preserving the region’s cultural and environmental heritage.