Nexans signs two memorandums of understanding with the Moroccan government for a new cable plant in Morocco

Nexans signs two memorandums of understanding with the Moroccan government for a new cable plant in Morocco

 PRESS RELEASE 

• Two agreements have been signed with Morocco’s Ministry of Industry and Trade, Ministry of Energy Transition and Sustainable Development, Ministry of Investment, Convergence and Evaluation of Public Policies, National Office of Electricity and Drinking Water (ONEE), and Moroccan Investment and Export Development Agency (AMDIE) to build a new medium-voltage cable plant in the country involving a total investment of €100 million, by 2026.
• With the goal of supporting the energy transition in Morocco and Africa, the project is expected to create more than 200 direct jobs.

Rabat, December 14^th, 2023: Nexans and the Moroccan Ministry of Industry and Trade, Ministry of Energy Transition and Sustainable Development, Ministry of Investment, Convergence and Evaluation of Public Policies, the National Office of Electricity and Drinking Water (ONEE) and the Moroccan Investment and Export Development Agency (AMDIE), signed two agreements involving a €100 million as a total investment plan to build the company’s third plant for medium-voltage cable in Morocco by 2026, in addition to its facilities in Casablanca and Mohammedia.

Strengthening Nexans’ commitment to the energy transition in Morocco and across Africa, the project is expected to create more than 200 direct jobs and will benefit from the backing of the Moroccan Ministries, the ONEE and the AMDIE. Moreover, it will meet the Group’s standards of excellence, in line with its Industry 4.0 digitalization and sustainability goals, and will deliver cables to Africa.

This project is aligned with the High Instructions of ​His Majesty, King Mohammed VI. Currently a leader in the region and across Africa in the deployment of renewable energy infrastructure, Morocco aims to consolidate the entire industrial ecosystem in the years to come. Through this transformative project, Morocco and Nexans are working together to strengthen the development of the renewable energy industry value chain in the Kingdom and to promote technical advancement in the local industrial fabric.

Christopher Guérin, CEO of Nexans: “Once again, I commend Morocco’s outstanding leadership in bringing the benefits of sustainable electrification to all. I am delighted with this new phase in our relations, which boosts our presence in the country, where we have been operating for more than 75 years, alongside our plants in Mohammedia and Casablanca. This project, bringing together public and private players, sets out to achieve, from the very start, ecological and human commitments, thereby unlocking significant economic potential for all of Africa.”

Selma Alami, Nexans Managing Director for North and West Africa: “This project is central to the key directives of the roadmap issued on High Instructions of His Majesty King Mohammed VI, may God assist Him, which were reiterated last March. I would like to express my praise for the support of the Ministries, which made this agreement possible. We are proud to strengthen our presence in Morocco.”

About Nexans

For over a century, Nexans has played a crucial role in the electrification of the planet and is committed to electrifying the future. With approximately 28,000 people in 42 countries, the Group is paving the way to a new world of safe, sustainable  and decarbonized electricity that is accessible to everyone. In 2022, Nexans generated 6.7 billion euros in standard sales. The Group is a leader in the design and manufacturing of cable systems and services across four main business areas: Power Generation & Transmission, Distribution, Usage and Industry & Solutions. Nexans was the first company in its industry to create a Foundation supporting sustainable initiatives, bringing access to energy to disadvantaged communities worldwide. The Group is recognized on the CDP Climate Change A List as a global leader on climate action and has committed to Net-Zero emissions by 2050 aligned with the Science Based Targets initiative (SBTi). 

Nexans. Electrify the future. 

Nexans is listed on Euronext Paris, compartment A. 
For more information, please visit www.nexans.com 

About Nexans Morocco

A subsidiary of the Nexans Group since 1947, Nexans Morocco is recognised on the Moroccan market as a leader in the electrical equipment sector. Nexans Morocco is also very active in the Maghreb and African market.
Operating in the infrastructure, industry and building markets, Nexans Morocco combines know-how and expertise in various fields, allowing it to offer a wide range of diversified products and turnkey solutions.
Nexans Morocco has two production plants:

• the Casablanca plant, which includes unit of medium voltage cells, prefabricated substations and transformers.
• the Mohammedia plant, which is totally dedicated to electrical cables (power cables, building cables, telecommunication cables and aeronautic cables).

https://www.nexans.ma/fr/

Contacts:

Communication   Emmanuel Guinot emmanuel.guinot@nexans.com	Investor relations   Elodie Robbe-Mouillot elodie.robbe-mouillot@nexans.com
Ilham Dahou Tel.: +212 (0)6 11 29 72 91 ilham.dahou@nexans.com

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• Nexans signs two memorandums of understanding with the Moroccan government - EN