Boeing, Alphavest to launch 5 excellence centers in Morocco
The Casablanca-based investment firm and the US multinational corporation have signed a memorandum of understanding to jointly develop aerospace centers in Morocco. This move is also poised to significantly elevate the North African country's position in the global aerospace value chain.
The two parties will collaborate to enhance logistics capabilities, with a focus on engineering for airplane transport systems, including tubes, ducts, hoses, fittings, complex standard machined parts and sheet metal, secondary structures, particularly composite components, and metal processing and distribution.
The development, part of a 2016 agreement between Boeing and Moroccan authorities, highlights the manufacturing company's commitment to strengthening the country's industrial base and supply chains.
Majid Benmlih, chairman and CEO of Alphavest, said the 'historic' agreement with Boeing marks Morocco's emergence on the global aerospace stage.
'It highlights the kingdom's position as a best-value destination for aerospace in terms of risk, quality, cost, and delivery,' he said. 'This agreement is the result of several years of collaboration between Alphavest Capital and Boeing, especially through the creation and growth of TDM Aerospace.'
Morocco hosts 150 aerospace firms that generate €2.5 billion ($2.7 billion) annually and employ 26,000 workers across key cities. The sector focuses on fuselages, structural components, cabin interiors, and wiring systems.
With competitive costs and a workforce that trains 23,000 engineers annually, the nation aims to expand into cabin outfitting, landing gear, and commercial aircraft assembly within the next decade.
Ihssane Mounir, senior vice president of global supply chain and fabrication at Boeing Commercial Airplanes, said they are proud to partner with Alphavest to further develop Morocco's aerospace supply chain capabilities and cultivate a high-performing, skilled workforce.
'This agreement reinforces our commitment to supporting the Kingdom's vision of establishing Morocco as a key player in the global aerospace industry,' Mounir added.
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