According to local media reports, Somasteel, a Moroccan rebar manufacturer, officially opened the expansion of its production facility in Nouacer, the ceremony was attended by the Minister of Industry and Trade of Morocco Riyad Mezzour.
The expansion project involves the installation of a modern electric superheating furnace and represents a total investment of 760 million MAD ($83.4 million). With the new facilities, Somasteel is expected to increase its annual bullion production capacity to 400,000 tons.
The project also aims to generate significant employment growth, with direct jobs increasing from 250 to 850, while almost 1,800 indirect jobs are expected to be created, which will support the socio-economic development of the surrounding region.
According to the company, the investment completes Somasteel's production chain by integrating a complete industrial process, from scrap metal recycling to the production of reinforcing steel rods. The expansion is consistent with Somasteel's vertical integration strategy, which allows the company to produce cylindrical ingots in-house as a critical contribution to reinforcing bar operations.
During the inauguration, Minister Rayad Mezzour welcomed the commissioning of the expanded facility and praised Somasteel and other industry stakeholders for their role in strengthening local production and promoting competitive import substitution.
For his part, Somasteel CEO Khalid Mahra, as quoted by local media,
