Gadiri
January 6th, 2011, 06:36 PM
HM the King chairs signing ceremony of industrial partnership agreement between Morocco and Alstom
Agadir - HM King Mohammed VI presided, on Thursday in the Royal Palace of Agadir, over the signing ceremony of a strategic industrial partnership agreement between Morocco and the French Alstom group in the field of railway transport.
http://img195.imageshack.us/img195/9015/patricekronagadirpalais.jpg (http://img195.imageshack.us/i/patricekronagadirpalais.jpg/)
- The agreement provides for financial commitments worth 9.5 billion dirhams in the form of investments in the railway industry.
- Around 5,000 jobs will be created in the railway sector in the next 10 years.
Signed by Industry, Trade and New Technologies Minister Ahmed Reda Chami, Equipment and Transport Minister Karim Ghellab, and Alstom's CEO Patrick Kron, the agreement provides for an active commitment of the French group to develop the railway sector in Morocco.
Under this agreement, Alstom will, over the next ten years, purchase from Moroccan suppliers the necessary equipment for European assembly plants of rolling stock as well as railway equipment, for a total cost of six billion dirhams (535 million euros).
The group also commits to invest in a new industrial unit whose exports during the same period will reach 3.5 billion dirhams (310 million euros), and to conclude a contract with an offshoring company based in Morocco to create 65 jobs in servicing.
The group will also sign agreements to support Moroccan universities and will contribute to establishing a vocational-training school in the railway industry.
In a presentation before HM the King in the beginning of the ceremony, Ahmed Reda Chami highlighted the broad lines of the agreement which targets the creation of 5,000 jobs in the next ten years.
This win-win partnership reinforces the competitiveness of the French group’s sites, while enabling Morocco to have a new industrial activity, he said.
The agreement will make it possible for Alstom “to benefit from a platform of railway activities in production, as well as in maintenance, whose implications will go beyond our borders to reach African and the Middle East states,” the minister added.
On this occasion, HM the King decorated Alstom’s CEO with the Alaouite Wissam with the rank of Commander.
http://www.map.ma/eng/sections/main1/hm_the_king_presides1488/view
845 millions euros = 1,1 billion $
Agadir - HM King Mohammed VI presided, on Thursday in the Royal Palace of Agadir, over the signing ceremony of a strategic industrial partnership agreement between Morocco and the French Alstom group in the field of railway transport.
http://img195.imageshack.us/img195/9015/patricekronagadirpalais.jpg (http://img195.imageshack.us/i/patricekronagadirpalais.jpg/)
- The agreement provides for financial commitments worth 9.5 billion dirhams in the form of investments in the railway industry.
- Around 5,000 jobs will be created in the railway sector in the next 10 years.
Signed by Industry, Trade and New Technologies Minister Ahmed Reda Chami, Equipment and Transport Minister Karim Ghellab, and Alstom's CEO Patrick Kron, the agreement provides for an active commitment of the French group to develop the railway sector in Morocco.
Under this agreement, Alstom will, over the next ten years, purchase from Moroccan suppliers the necessary equipment for European assembly plants of rolling stock as well as railway equipment, for a total cost of six billion dirhams (535 million euros).
The group also commits to invest in a new industrial unit whose exports during the same period will reach 3.5 billion dirhams (310 million euros), and to conclude a contract with an offshoring company based in Morocco to create 65 jobs in servicing.
The group will also sign agreements to support Moroccan universities and will contribute to establishing a vocational-training school in the railway industry.
In a presentation before HM the King in the beginning of the ceremony, Ahmed Reda Chami highlighted the broad lines of the agreement which targets the creation of 5,000 jobs in the next ten years.
This win-win partnership reinforces the competitiveness of the French group’s sites, while enabling Morocco to have a new industrial activity, he said.
The agreement will make it possible for Alstom “to benefit from a platform of railway activities in production, as well as in maintenance, whose implications will go beyond our borders to reach African and the Middle East states,” the minister added.
On this occasion, HM the King decorated Alstom’s CEO with the Alaouite Wissam with the rank of Commander.
http://www.map.ma/eng/sections/main1/hm_the_king_presides1488/view
845 millions euros = 1,1 billion $