Brazil’s Embraer has signed a preliminary deal to invest in Morocco’s aerospace sector, including the establishment of a maintenance facility, to support Moroccan airline RAM’s ambitious fleet expansion. This follows a similar $141.14 million investment by Safran in an MRO plant. Morocco aims to replicate its automotive success in aerospace manufacturing, which already generates significant exports.
Brazil’s Embraer has established a preliminary agreement with Morocco to enhance the nation’s aerospace sector by investing in its civilian and defense capabilities. This venture will include the establishment of a maintenance and repair facility, according to Morocco’s industry ministry. This new maintenance, repair, and overhaul (MRO) facility could increase Embraer’s prospects of securing a portion of a recent aircraft procurement tender issued by Moroccan airline RAM. RAM has ambitious plans to expand its fleet from 50 to 200 aircraft over the next 14 years, aiming to solidify its role as a primary carrier connecting Africa with Europe and the Americas, as stated by RAM’s CEO Abdelhamid Addou during the Marrakech Air Show. Furthermore, the Moroccan government is actively promoting investments in the aerospace sector, exemplified by the recent agreement signed between airplane engine manufacturer Safran and the government to develop an MRO plant valued at 130 million euros ($141.14 million). Morocco’s aerospace sector is growing, with 147 industrial plants that produce a variety of components, which contributed to $2.2 billion in exports last year, serving prominent global manufacturers such as Boeing and Airbus.
The growing aerospace sector in Morocco reflects the government’s efforts to diversify its economy, similar to its achievements in the automotive industry. By fostering an environment conducive to foreign direct investment, Morocco aims to create strong supply chains and enhance technological expertise in aerospace manufacturing. The establishment of various industrial plants is indicative of the country’s commitment to strengthening its position in the global aerospace market, ultimately leading to increased employment and export opportunities.
In summary, Embraer’s investment in Morocco’s aerospace sector represents a significant step forward for both the company and the country. With plans to expand the Moroccan airline RAM’s fleet and additional investments in aerospace maintenance facilities, Morocco is poised to enhance its status as a vital player in the international aerospace industry. This collaboration not only strengthens Bilateral ties between Brazil and Morocco but also demonstrates Morocco’s ongoing strategic efforts to attract investments.
Original Source: www.marketscreener.com
