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Chinese textile maker Sunrise to build two plants in Morocco

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Chinese textile company Sunrise Group will invest 2.3 billion dirhams ($240 million) to build two textile plants in Morocco, the Moroccan government said on Thursday after signing the deal.
Chinese textile manufacturer Sunrise Group has announced plans to invest $200 million in Morocco to establish two new factories. This investment aims to leverage Morocco's strategic location and trade agreements, particularly its free trade agreement with the United States, to enhance Sunrise's market access in North America and Europe. The new facilities will focus on producing yarn and fabric, with one plant dedicated to spinning and the other to weaving. This move is part of a broader trend of Chinese companies relocating manufacturing operations to Africa to reduce costs and navigate around trade barriers. The project is expected to create around 1,000 jobs in Morocco, contributing to the local economy and supporting the growth of the textile industry in the region.

Read the Full Reuters Article at:
[ https://www.msn.com/en-us/money/companies/chinese-textile-maker-sunrise-to-build-two-plants-in-morocco/ar-AA1BjR3m ]