April 10, 2018 / 7:49 PM / 11 days ago

South Korea's Hands starts to build Morocco aluminum plant - agency

RABAT, April 10 (Reuters) - South Korea’s Hands Corp started work on Tuesday on building an aluminium wheel plant in Morocco at a total cost of 4.33 billion dirhams ($472 million), Moroccan state news agency MAP said.

The new factory will have an annual production capacity of 8 million units and will be the third largest investment in the automotive sector in Morocco after Renault’s plant in Tangier and PSA Peugeot Citroen factory in Kenitra, MAP said.

$1 = 9.1719 Moroccan dirham Reporting by Ahmed Eljechtimi; Editing by Ulf Laessing and Mark Potter

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