A delegation from Chinese company Huayou, a major player in the manufacturing of battery components for electric vehicles (EV), has visited lately Laayoune-Sakia El Hamra region ahead of its gigafactory project planned by the Chinese firm in the region.
According to the local investment center, the Chinese company will invest $ 20 billion over seven years in this large-scale industrial project to be completed in 2030.
The project is expected to create more than 13,000 jobs and enable Huayou to diversify its global supply chains and meet 30% of the demand of the Moroccan, European and American markets.
Thanks to their modern infrastructures, incentives granted to investors, the stability, visibility and huge untapped resources, the Moroccan Saharan region is attracting a growing interest of foreign investors looking for growth opportunities.
Few weeks ago, UK Oblin group had announced plans to invest $100 billion in green energy projects to be carried out in the Saharan cities of Laayoune and Dakhla.
According to Oblin’s CEO Brannan Tempest, the $100 bln investment will be used for the construction of a market-leading solar panel manufacturing plant, solar farm, and wind farm.
The company’s plans include the option to expand further with large-scale renewable energy generation that would be used for the manufacturing of Green Hydrogen and Green Liquid Ammonia. These projects will create several job opportunities in the Saharan region, living in peace and stability, key factors of attracting investors.