Moroccan Holding Group Anouar Invest announced the construction of a cement factory in Laâyoune as part of the new southern provinces development projects in infrastructure and housing.
The factory will seek to meet the high demand for cement, an essential product for construction, the group explained in a communiqué.
With an investment package reaching MAD 300 million, CIMSUD (Ciement Sud) will begin operations by July 2017, producing 500,000 tons of cement per year.
The plant will be located in the area of Foum El Oued (Laâyoune). CIMSUD will create 75,000 employment days in its operation phase and 170 jobs in its exploitation phase.
The group has also started construction of a cement entity in the Settat region with a budget of MAD 3 billion. It will produce 2.2 million tons of cement annually and will be in operation late 2018.
Founded in 1994, Anouar Invest SA has grown from a regional food distributor to one of the largest agribusiness players in Morocco. The group primarily processes and distributes staple foods, but it is also involved in real estate development.
Anouar’s strategy focuses on consolidating its market position in agribusiness, preparing for future domestic market growth and gradually expanding to high potential markets in West Africa.
The group’s consolidated sales reached MAD 7 billion in 2014. It employs 3,500 people in more than 20 subsidiaries.