alaysian group DXN Holdings announced on October 23 that work has begun on its first plant in North Africa, in Meknes, on an 80,765-square-meter site in the Agropolis industrial park. The project has received the approval of the Moroccan authorities and its building permit, the wellness products maker listed in Kuala Lumpur said in a statement reported by the New Straits Times and Business Today. The unit will produce supplements based on spirulina and ganoderma, a mushroom Asia knows as lingzhi, two of the group’s core product lines, and is expected to create some two hundred and fifty jobs. The memorandum of understanding of May 27, 2024, concluded by its subsidiary Dexin Morocco with the ministries of Industry and Investment and filed with the Malaysian stock exchange, put the investment at about 161 million dirhams, for two hundred and fifty direct jobs by the end of 2028.
DXN is still negotiating the definitive investment agreement with the government, which will set the subsidies and incentives granted to the project; as the memorandum noted, only that signature will create binding obligations between the parties. The group, which aims to take its network from fourteen to twenty-one factories, intends to make Meknes a production hub for North Africa and Europe, alongside its site in the Middle East. The choice is no accident: the memorandum already placed the project within the Kingdom’s ambition to become a regional agri-food hub, an ambition the Meknes plant will soon turn into walls.
Photo: Pedro from Maia (Porto), Portugal, CC BY 2.0.
DXN Holdings Bhd. (Bursa Malaysia) - Memorandum of Understanding entered into between the Ministry of Industry and Trade, the Ministry of Investment, Convergence and Evaluation of Public Policies and Dexin Morocco SA
New Straits Times - DXN breaks ground on its first North African plant in Morocco
Business Today - DXN Expands Into North Africa With First Manufacturing Plant In Morocco
