Riva Industries Unveils $290 Million Steel Complex in Morocco

Monday 22 July 2024 - 09:00

New Facility Aimed at Boosting Domestic and International Steel Production

Riva Industries, a prominent Moroccan steel manufacturer, has inaugurated an advanced industrial complex in Jorf Lasfar with an investment of approximately 2.9 billion dirhams ($290 million).

This cutting-edge facility is set to produce a wide array of metallurgical products, including reinforcing steel bars, wire rods, large-diameter coils, steel ingots, and special steels. Spanning 75 hectares, the complex is designed to cater to both domestic demands and expand Morocco's steel footprint in international markets, particularly in Europe and Africa.

The substantial investment promises significant economic benefits, notably the creation of 3,000 jobs, with 1,100 of these being direct and stable positions. This development is a strategic move to fulfill the growing needs of the national market while also targeting international expansion.

Moroccan Minister of Commerce and Industry, Ryad Mezzour, lauded the project's completion during his visit to the facility on Friday. “This project will enhance national production capacity and diversify products with high local integration,” Mezzour remarked. He emphasized that the initiative aligns with royal directives to bolster Morocco's industrial self-sufficiency by reducing imports and enhancing exports.

The complex is equipped with auxiliary units that incorporate advanced technologies for sorting and preparing ferrous waste, recycling water and smoke, converting electricity through clean stations, and producing essential gases and materials vital for the complex’s operations. These features underline Riva Industries’ commitment to sustainable and efficient production practices.

In recognition of its adherence to quality standards, Riva Industries was awarded a certificate of compliance with Moroccan standards for wire rods by the minister. This endorsement reinforces the company’s dedication to delivering high-quality steel products.

Riva Industries’ new facility marks a significant milestone in Morocco's industrial landscape, promising to fortify the nation's production capabilities and broaden its market reach.