Japanese electric and electronics firm Furukawa Electric Co. has opened its first fibre optic cable production plant in MENA (Middle East North Africa) in Morocco's Tangier Automotive City.
The company spent over US$22 million (approximately 200 million dirhams) on the new plant which it says will be run by its US subsidiary Optical Fibre Solutions.
The plant covers a surface area of 31,000 square meters and is expected to create 200 direct jobs.
Furukawa has also pledged to increase its investment in the facility to about US$32 million (approximately 300 million dirhams).
Morocco's Industry Minister, Moulay Hafid Elalamy attended the opening ceremony and described the Japanese company's investment as an attestation "to the trust and interest of industry giants in Morocco".
Furukawa executives said the new facility will meet an increasing demand for FTTH in Morocco.
Jacques Fiorella, General Manager of Furukawa Electric revealed that Morocco was selected for the project because of its highly strategic geographical position.
"We chose Morocco because of several parameters including political stability, the geostrategic position of the country and its infrastructure. We are targeting the Moroccan market which is booming, but not only; we also want to have a foothold in Africa to serve this continent effectively, and Morocco was the best choice for us."