Morocco: Varroc Engineering secures additional $16.2mln EBRD loan
Tuesday, 25 February 2020 15:08
Varroc Lighting Systems Morocco, local arm of Indian automotive lighting system manufacturer Varroc Engineering, will benefit from a new credit line of €15 million ($16.2 million) from the European Bank for Reconstruction and Development. This is the second loan granted by EBRD to the company after the €16 million provided in 2018.
The new financing will allow Varroc to boost supply of projectors and rear lights to the Renault factory in Tangier and the Peugeot PSA plant in Kenitra, as well as other foreign car manufacturers. Part of the resources will help create engineering centers and laboratories dedicated to training.
Founded in 1990, Varroc Engineering has offices in 17 countries and 41 first-class production centers. The company is a major player in the world’s automotive lighting system industry.
Chamberline Moko
Live News
-
The Gambia Leads the World in Rice Consumption Per Person
17:08
-
Congo Launches Work on 542-km Section of Corridor 13 Toward Regional Capitals
16:19
-
Maritime Dispute: Ghana Seeks Arbitration, Togo Pledges to Defend Claims
15:23
-
Egypt Forms Shipping Joint Venture to Expand Trade with East Africa
15:06
-
AfDB Explores Investment in Cattle and Poultry Value Chains in Togo
15:01
-
Angola Opens $635 Million Border Complex to Facilitate Trade with DRC
14:28
-
BGFIBank Cameroon Increases Capital to CFA50Bln Ahead of Stricter Banking Rules
20:58
-
Cameroon Signals Possible Return to Bvmac with Up to CFA150 Billion Bond
18:15
-
Public Enterprises Hold CFA1.5 Trillion in Assets, CFA493.9 Billion in External Debt at End-2024
18:08
-
Cameroon Faces CFA65.7 Billion in Repayments, Turns to Market for Relief
18:04
Amazon begins talks with Kenya on low-Earth orbit satellite broadband Kenya’s digital market ...
Dangote to list $20-25 billion refinery within five months NNPC holds 7.25% stake; dividends...
DRC seeks ITC support for local battery value chains Musompo SEZ targets $2 billion private ...
Algeria’s NESDA and the Algerian‑Saudi Investment Company sign cooperation deal focused on researc...
Siguiri mine produced 289,000 ounces in 2025, up 6% Fourth-quarter output rose 15%, boosting annu...
Gambia world’s top rice consumer at 256 kg per capita Rice provides 75% rural caloric intake Country imports nearly 80% of rice consumption Rice...
Congo launches paving of 542-km Corridor 13 section Four-year project links Brazzaville to regional capitals Road aims boost trade, support AfCFTA...
Egypt’s CSAG signs JV deal to operate vessels New line to link Egyptian and East African ports Move supports export growth, intra-African trade...
Angola opens $635 million Luvo border complex Facility consolidates customs, police, immigration services Project aims boost DRC trade under...
More than 500 media leaders gathered in Nairobi on Feb. 25–26 for the fourth African Media Festival under the theme “Resilient Stories: Reinventing...
Located about 500 kilometers southwest of Cairo, between the oases of Bahariya and Farafra, the White Desert stands out as one of Egypt’s most distinctive...