MOROCCO – Land’Or, Tunisian dairy manufacturer has unveiled that it will be investing US$11.3 millon in setting up a new plant in Morocco.
According to a Morocco News report, Land’Or said it be commissioning operations of the facility in the first quarter of 2021.
The company will build the 3,300 square meter plant in a 1.3 hectare plot in Kenitra, near Rabat for local production of canned cheese, melting cheese, and fresh cheese.
Land’Or seeks to sell most of the products in the Moroccan market as part of its strategy to grow its footprint in the country, which already represents 28% of Land’Or’s turnover.
“The company’s objective is to “consolidate its position in Morocco and conquer West Africa,” the news outlet added.
Land’Or is said to have already secured the US$11.3 million funding for the project of which US$6.78 million will be financed by the Tunisia’s Central Bank.
The company’s chief executive, Hatem Denguezli, said that the launch of the construction is expected in December and has scheduled to start ordering the industrial equipment in 2020, at a cost of around US$5.87 million.
Meanwhile, the North African country is also seeking collaboration with Spain to boost the fishing industry.
Aziz Akhannouch, Minister of Agriculture, Fisheries, Rural Development, Water and Forestry in Morocco recently met with Spanish Minister of Agriculture, Fisheries and Nutrition, Luis Planas to discuss the new 4-year fishing agreement between Morocco and the European Union.
The agreement allocates fishing opportunities for the EU in exchange for US$234.91 million funding.
The agreement is expected to be approved by the Moroccan Parliament after being accepted by the Ministerial Council on June 4.
Part of this contribution is to be used to promote the sustainable development of the fisheries economy in Morocco and Western Sahara by enabling the EU and Morocco to work more closely in promoting a sustainable fisheries policy and the responsible use of fishing.
The two countries have expressed their commitment to give a new dynamism in the industry stressing the importance of simplifying the regulations and procedures for the export of fishing produce to ensure strict control and respect of international standards.
The ministers also examined prospects for cooperation in scientific research in the phytosanitary field.