Aeolon closes a 220 million euro contract with Morocco thanks to Mohammed VI

China is focusing notoriously on Morocco. The Asian giant will pay just over 220 million euros, which it will allocate to the city of Nador through its Aeolon group, which manufactures blades for wind turbines, to open a factory in the Moroccan city of 50 hectares (ha) in the Betoya industrial zone, near the port of Nador West Med.

The multinational estimates that more than 3,300 jobs will be created and the project is expected to be operational from January 2025. This is Aeolon's sixth project, and the first outside China. The Chinese company said that the technology of the new complex in Nador will serve as a model for future projects. 

The plant to be built in Nador is expected to produce around 600 wind turbine blades per year for key markets in Europe, Africa and the Middle East

According to the deputy minister of the head of government, Mohcine Jazouli, the impact of the project will extend beyond the city of Nador, providing a considerable boost to renewable energy and development in the region as a whole. On the Chinese side, the company Aeolon, with the signing of the agreement, will consolidate its position as the best wind energy company in the world. 

#Aeolon's investment is one of the first and major projects approved by the National Investment Commission since the launch of the new Investment charter. (1/2) https://t.co/LIjFMIJT4b

— Mohcine Jazouli محسن الجزولي (@mohcine_jazouli) January 23, 2024

China's investment does not stop there. As with many companies today, "political and economic stability" in African countries is the most important guarantee for foreign investment, as they see the North African country as a reliable partner with strong links to many world powers. 

The relations between the two countries and the fiscal facilities enjoyed by the Kingdom of Morocco have been key to obtaining various contracts which, according to the Chinese government itself, are worth 55,000 million euros until 2026 and the creation of nearly half a million jobs in these 3 years. 

Although economic relations between the two powers are fruitful, the intervention of the Moroccan government and, above all, of the monarch Mohammed VI has been crucial for these agreements to go ahead. 

Hu Wenlong, CEO of Aeolon, said that finding new markets and production areas outside China is the company's top priority, as it is a very important step in its growth and development.