Indian Auto Parts Maker Kwangjin Expands to Tangier, Morocco

The Kwangjin group, a specialist in window mechanisms and motors for vehicles, has set up its first industrial unit in the free zone adjacent to the Tanger Med port. According to challenge.ma, the group aims to materialize the investment in a new industrial unit to be commissioned in 2021.

For now, no information has leaked out about the kitty to be mobilized by the Chennai-based (capital of the state of Tamil Nadu in southeastern India) group for its establishment in Morocco, or about its financing method (knowing that Varroc had financed a good part of its Tangier plant through a loan of nearly 180 million DH obtained from the EBRD). According to the latest news, the group has spent an envelope of nearly 50 million DH for the first phase.

Morocco, which aims to be among the top 20 automotive manufacturers in the world in the short term, should follow the example of India where the automotive industry has experienced a dazzling development over the last decade, to the point of representing in 2018 about 7% of the country’s gross domestic product (compared to less than 5% for Morocco).