The Bankwatch

Tracking the consumer evolution of financial services

Update to Tanger Med Auto development in Morocco

An update to a post last July 2008.  Nissan have had suspend development of the Tanger Med terminal development in Morocco, but their partner Renault appear to remain in. It is noted that this is a suspension, not withdrawal, and partnet Renault is still in.

This development is significant, and is in the same vein as the Gwadar development in Pakistan being mde by China.  The shape of world commerce is changing, and the current economic crisis just means those changes themselves are changing.

As I asked in July 2008 – where is the Tanger Med for banks – that new beachead, real or virtual that will reshape banking?

Nissan pulls out of Tangier-Med car manufacturing project

As part of a large-scale programme of cutbacks due to the global economic crisis, the Japanese carmaker Nissan decided on Monday (February 9th) to suspend its involvement in the project to build a plant jointly with French firm Renault in the Tangier-Med free zone.

… …

The aim of the Renault-Nissan Alliance project at the Melloussa site at Tangier-Med is to build a car assembly plant with an output of 200,000 vehicles per year from 2010 onwards, with the option of scaling up output to 400,000 vehicles per year in the long term. Measuring 300 hectares, the site is located within the Special Economic Zone at the Tangier-Med port complex.

The industrial super-project is expected to attract a total investment of 600m euros and create over 6,000 direct jobs and 30,000 indirect jobs for component-makers and subcontractors. The forecasts announced by Renault-Nissan managers are based on the expectation that the plant will manufacture cars that will be competitive in external markets.

Written by Colin Henderson

April 26, 2009 at 22:52

Posted in Uncategorized

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