Italian Leather Maker NUTI IVO Signs MOU with Morocco Investing $13.2M to establish State-of-the-Art Tannery

MOU between these 2 parties spans from 2025 to 2029 and is anticipated to generate an annual turnover of US$30.4 million
Italian Leather Maker NUTI IVO Signs MOU with Morocco, Investing $13.2M to establish State-of-the-Art Tannery

In a significant move towards enhancing the leather industry in Morocco, a memorandum of understanding (MOU) was signed on Tuesday, May 28, 2024, in Rabat. The agreement, inked between the Italian tannery NUTI IVO and Moroccan authorities, marks the inception of a state-of-the-art tannery in Morocco. The ceremony witnessed the presence of the Moroccan Minister of Industry and Trade, Mr. Ryad Mezzour, and the CEO of NUTI IVO, Mr. Fabrizio Nuti.

This memorandum of understanding spans from 2025 to 2029 and encompasses an investment exceeding 131.2 million dirhams (US$13.22 million). The project is anticipated to generate an annual turnover of 300 million dirhams (US$30.24 million), with more than 90% aimed at export markets. Furthermore, it is expected to create 265 direct jobs. The tannery is projected to process 11,500 skins daily, primarily sourced locally, enhancing the domestic leather supply chain.

A standout feature of this new project is its commitment to sustainability and circular economy principles. The tannery will utilize solar energy to meet part of its electricity requirements. Additionally, it will implement waste treatment and valorization processes, converting waste into valuable products such as fertilizers, compost, and gelatin. This initiative aligns with global environmental standards, positioning Morocco as a forward-thinking player in the leather industry.

“The leather industry in Morocco is a historical sector undergoing significant changes to meet environmental challenges and demands. The new modern tannery project meets target market requirements for quality and environmental standards and provides a high-quality raw material. This presents a significant opportunity for Moroccan leather ecosystem”

Mr. Ryad Mezzour highlighted the impact of this project on Morocco’s leather sector.

NUTI IVO is one of Italy’s most prominent tannery groups, boasting an annual turnover of 150 million Euros and employing over 300 people. The group has been present in Morocco since 2010 through the Shihara tannery in Marrakech’s Sidi Ghanem Industrial Zone. This tannery generates a turnover exceeding 109.3 million dirhams (US$11.02 million), primarily through exports to countries like Italy, China, and Thailand.

The establishment of this modern tannery in Morocco is expected to have far-reaching effects on the local economy. By leveraging local resources and adhering to sustainable practices, the project will not only boost the leather industry but also set a precedent for environmentally responsible industrial development.

With over 90% of the tannery’s production destined for export, this project will significantly bolster Morocco’s export capabilities. The high-quality leather produced will cater to premium markets, enhancing the reputation of Moroccan leather on the global stage. This strategic move is set to attract further investments in the leather sector, fostering a robust and competitive industry.

The modern tannery project emphasizes adherence to strict quality and environmental standards. This commitment ensures that the leather produced meets international benchmarks, appealing to discerning global markets. By adopting advanced technologies and sustainable practices, the tannery will set new standards in the industry, positioning Morocco as a leader in quality leather production.

In conclusion, the signing of the MOU between NUTI IVO and Moroccan authorities marks a pivotal moment for Morocco’s leather industry. This ambitious project, with its focus on sustainability, local resource utilization, and high-quality production, promises to transform the sector. By fostering international partnerships and adhering to rigorous standards, Morocco is set to emerge as a key player in the global leather market.

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