RABAT, March 20 (Xinhua) -- Spanish auto parts maker Ficosa opened Tuesday its first plant in Morocco, local media reported.
Ficosa has set up the factory with a total investment of 50 million euros.
The plant, which will offer 700 direct jobs, is expected to generate 150 million euros yearly by 2020.
The company is specialized in manufacturing advanced technology vision, safety, connectivity and efficiency systems for the motor and mobility sectors.
It is expected to supply auto parts to the factory of the French car manufacturer PSA Group.
Morocco's automotive industry is rapidly growing due to government incentives as well as other competitive factors.
