Investmentsmorocco

Leading Korean automotive manufacturer in Tangier

Hands Group, a Korean automotive equipment manufacturer specializing in the manufacture of aluminum wheel tires, opened its first factory on the African continent on Tuesday with an investment of AED 4.3 billion dirhams The 23-hectare industrial complex, located in The Automotive City, Tangier, will create 1,600 jobs, with a medium-term production capacity of 8 million units per year, 85 per cent of which are export-oriented.

The Hands Group also aspires, through its factory in Tangier, which opened in the presence of The Minister of Industry, Trade, Green and Digital Economy, Moulay Hafiz Alami, Ambassador of Korea to Morocco, Seung-Dionk Yoon, Chairman of Hands Corporation Group, Rif Suksho, and President of Tangier Mediterranean, Fouad Al-Brieni To supply major manufacturers such as Pogo-Citroen, Rono, Nissan, Volkswagen, Hyundai, GM, Ford, Kia, Skoda, Suzuki and Chrysler. “This project, which was signed under the chairmanship of His Majesty King Mohammed VI in December 2017, reflects an important investment from a leading Korean group in the automotive industry,” said Moulay Hafiz alami, explaining that Hands is the fifth largest aluminium tyre manufacturer in the world, thanks to which Morocco will become the third largest manufacturer of this product.”This project, which was signed under the chairmanship of His Majesty King Mohammed VI in December 2017, reflects an important investment from a leading Korean group in the automotive industry,” said Moulay Hafiz alami, explaining that Hands is the fifth largest aluminium tyre manufacturer in the world, thanks to which Morocco will become the third largest manufacturer of this product.He pointed out that this is a matter of the construction of a factory for the “Hands” group, the first outside South Korea and China, the most advanced in the level of used technology, adding that “the automotive sector is sustaining its gains with the launch of this project and is moving towards new development levels.”

“The Tangier factory has been equipped with the best technology available in the field to ensure that production reaches 4 million frames per year,” said Reif Sukcho, who said the group had considered expanding its activities internationally by investing in Tangier, taking advantage of Morocco’s strategic location, which facilitates access to the EUROPEAN Union and other nearby countries.He expressed the hope that the Tangier plant will contribute to the growth of the “Hands” group and the growth of the automotive industry in Morocco, pointing out that the plant will become the largest production site of the group after increasing its capacity to 8 million tires per year in the future.

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