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
-
Burkina Faso, Ghana sign seven cooperation agreements on transport, borders, and narcotics
14:39
-
Guinea's Largest Gold Mine Records 6% Output Rise in 2025
14:29
-
Central Bank of the Democratic Republic of Congo To Acquire Artisanal Gold For Strengthened External Reserves
12:40
-
Egypt’s White Desert, a Landscape Shaped by Wind and Time
11:05
-
French Engineering Group Egis Exits Six Africa Units Amid Legal Dispute
04:08
-
Cameroon Completes Buyback of Eneo in a CFA78 Billion Deal with Actis
20:55
-
Cameroon’s Social Housing Program Falls Short of Initial Targets
20:10
-
Cameroon Customs IT Operator Campass Replaces Chairman After Governance Dispute
20:08
-
Interpol Arrests 651 Suspects in Massive African Cybercrime Crackdown
17:48
-
Flextock Secures Funding to Expand On-Demand Warehousing in Saudi Arabia, UAE
17:44
ECOWAS central bank governors reaffirm a 2027 target for launching the Eco. Nigeria signals...
South Africa led with 35% of total deal value, ahead of Kenya and Egypt Inbound deal value ro...
Investigation targets alleged breaches of Nigeria’s 2023 data protection law Platform processes p...
Nigeria opened a formal investigation into Temu over alleged violations of its 2023 data protectio...
The main point of contention between Niamey and France’s Orano concerns the uranium stock extracted ...
Ghana to receive 100 buses for Metro Mass Transit Government plans over 300 buses by year-end Operational fleet fell from 1,000 to about...
Burkina Faso, Ghana sign seven cooperation agreements Feb. 20 Deals cover transport, border review, narcotics, disaster response Bilateral trade...
Siguiri mine produced 289,000 ounces in 2025, up 6% Fourth-quarter output rose 15%, boosting annual revenue to $990 million AngloGold total...
Africa secured $13.84 billion across 306 energy transition deals in 2025. Clean energy projects accounted for 98.3% of total investment...
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...
The University of Lomé on Wednesday opened a fossil and rock exhibition hall showcasing specimens from the country’s coastal sedimentary basin. Led by the...