Jorf Lasfar Agroindustrial Project: $53 Million Investment
- Morocco, like many North African nations, relies heavily on wheat as a staple food.
- 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.
- The factory is designed with an initial annual production capacity of 25,000 tonnes.
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Anouar Invest to build $53.3 Million Yeast & Bakery Improvement Factory in Morocco
Table of Contents
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.