Economy

PSA Peugeot Citroen plans to build multi-million-dollar factory in Moroccan

Date: Jun 22, 2015

PSA Peugeot Citroen has unveiled plans to build a 630-million-dollar Moroccan factory, as the French carmaker seeks to reduce both production costs and its reliance on Europe following a brush with bankruptcy.

The site near the coastal city of Kenitra will begin assembling small and sub-compact models for Africa and the Middle East in 2019 after signing the investment deal at Morocco's royal palace in Rabat.

--reuters

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