Zhejiang Hailiang builds new factory in Morocco

Little by little, Morocco is becoming a target for foreign companies operating in different sectors. The latter, the Chinese company “Zhejiang Hailiang”, a major player in the production of copper pipes and rods, plans to build a factory in Morocco worth 288 million dollars for the production of materials used in the new energy industry, including lithium battery chips, to meet growing demand around the world.

The Chinese company aims to provide better customer service in Europe, America, the Middle East and Africa with a new factory as geopolitical tensions pose major risks to trade and supply chains, according to a statement yesterday on Tuesday on the Shenzhen Stock Exchange taken.

Zhejiang Hailiang is trying to tap overseas markets after profit margins fell at home, with more restrictions on Chinese goods amid rising tensions with Western countries.

The company also announced the construction of a 50,000-ton copper plate production plant in Indonesia last year. It also has manufacturing bases in the United States, Germany, France, Italy, Spain, Vietnam and Thailand.

The factory in Morocco will be able to produce 50,000 tons of alloys, 35,000 tons of pipes, 40,000 tons of bars and 25,000 tons of chips annually once the 36-month construction period is completed.

Hailiang said that “ Morocco had free trade agreements with many Western countries, including the United States, the European Union and Turkey, which will improve access to these markets She also emphasized that the project will benefit from lower raw material costs thanks to the abundance of copper ore in Africa.