Settavex textile expansion program to cost MAD 650 Mn

08 Feb '06

2 min read

First phase of expansion of the industrial unit Settavex, investing more than MAD 650 million, was inaugurated by Moroccan Prime Minister Driss Jettou in the Settat industrial zone on Saturday, last.

A Spanish corporate Tavex has begun outsourcing activities from Morocco, hence Settavex has become an affiliate of Tavex.

Jettou was accompanied by Salaheddine Mezouar, Minister of Industry, Commerce and Economy Upgrading, Luis Planas, Spanish Ambassador to Morocco, and Enrique Garran, President, Tavex Group.

Investment in this project will increase the unit's production capacity to 24 million square meters per annum by 2008, sources said.

The project is spread over 19 hectares with a built up area of 52,000 square meters built at the cost of MAD 1,100 million.

Point to be noted is that Settavex achieved a turnover of MAD 620 million in 2005.

Jettou said that the textile sector had undergone crisis last year, but has overcome all that to achieve positive results, especially in export field.

Government officials and professionals from the textile sector were asked to adopt new strategies, diversify production and improve production quality by training workers; were all factors that helped the sector to confront stiff competition, said Mezouar.

Tavex invested in Morocco due to its expertise in textiles, conveyed Enrique Garran, President, Tavex.

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