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Anouar Invest⁣ to⁣ build $53.3 Million Yeast & Bakery Improvement Factory in Morocco

Overview

Morocco, like many North African nations, relies heavily on wheat⁢ as⁣ a staple ⁢food. ⁣ The increasing demand for wheat-based products, particularly bread, is driving growth ‍in related markets. To capitalize on this ‍trend and bolster domestic production, Anouar Invest has⁣ announced a ⁢significant investment ‍in a new manufacturing facility.

Factory ​Details & investment

On Wednesday, September 10, 2024, Anouar ⁤Invest initiated the construction⁣ of a new factory in the Jorf Lasfar industrial zone, located in the province of El ⁣Jadida, Morocco. This project represents a​ substantial investment of 480 million Moroccan dirhams, equivalent to approximately ‍$53.3 million USD.

Production Capacity & Expansion​ Plans

The factory ⁤is designed with ‍an initial annual production ‌capacity of 25,000 tonnes. however, ​Anouar Invest has incorporated‌ scalability into the design, allowing for future expansion to a capacity of 58,000 tonnes per year. This phased approach allows the company to ⁣respond to evolving market demands and maximize ​its return on ⁣investment.

Strategic Focus: Local Sourcing & Export

A key element of Anouar Invest’s strategy is a commitment to local sourcing. ⁣The‍ company intends ⁤to procure ‌95% of its ‌raw materials from within Morocco, specifically utilizing ‍molasses derived from sugar beets.This approach supports local agriculture, reduces transportation costs, and enhances the⁣ sustainability of‌ the operation.⁤ ⁣ Furthermore, 30% of the factory’s production will ⁣be ‌allocated for​ export, contributing to Morocco’s export economy.

Industry &⁢ Government Support

The⁢ launch ceremony ⁢was ⁤attended by⁤ key government officials, including Ryad Mezzour, the Minister ⁤of Industry and Trade, and Ahmed El Bouari, the Minister of Agriculture. Their presence‍ underscores the government’s support for initiatives that strengthen the​ national food industry and promote economic growth.