The Chinese industrial group Tinci Group announced its intention to open a large factory in Morocco that specializes in the production of electrolytes and chemical components used in the manufacture of electric lithium batteries, a factory that it intended to open in the Czech Republic in Europe.
The American Huffington Post website stated that the Chinese group decided to leave Europe and change its destination towards Morocco to launch this huge project, given the privileges associated with investment in Morocco, the most prominent of which is Morocco's important reserves of phosphorite ore, in addition to the country's economic stability.
According to the same source, the new project of the aforementioned Chinese group will be established in the industrial zone of Jorf Lasfar, near Casablanca. The construction is expected to last 24 months, and its annual production capacity will be 150,000 tons of electrolytes, 100,000 tons of lithium hexafluorophosphate and 50,000 tons of lithium iron phosphate.
To finance this step, the Huffington Post newspaper adds that the Chinese group plans to raise approximately 5.98 billion yuan (about 819.39 million US dollars) through the issuance of global depository certificates, in order to start construction of the plant and launch the production process.
This project is added to a number of Chinese projects related to the manufacture of electric batteries, as it seems that China wants to invest more in Morocco in similar projects, thanks to the advantages offered by the Kingdom for these projects, especially that Rabat pursues an industrial policy aimed at establishing a strong industry for electric cars in the next few years.
