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Chahed lays foundation stone for power cable manufacturing unit in Bouhjar, in Monastir

Published the:  07/07/2018

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(TAP) - Prime Minister Youssef Chahed laid the foundation stone on Saturday in Bouhjar (Monastir governorate) of a power cable manufacturing unit of the German company "PSZ," which will be built for an estimated investment of 91 million dinars (MD).

The project is expected to create 3,500 jobs. It is the 4th subsidiary of the German company in Tunisia after the three subsidiaries created in Ksar Hellal, the 1st of which was opened in October 2008.

Chahed said in a statement to the press, that this new investment of a fully-exporting company will create job positions for young Tunisians and higher-education graduates.

It is also a sign of the revival of economic activity in Tunisia, he pointed out, recalling the noteworthy improvement in economic indicators (tourism and exports) and the increase by 2.5% in the growth rate in the 1st quarter of 2018, with forecasts of continued growth in the 2nd quarter.

The PM assured that Tunisia is on the right track in terms of reforms and that we must persevere and endeavour to create new jobs. He again pointed to the return of the backers’ confidence in Tunisia, testified to by the $500 million-loan granted by the World Bank to Tunisia and the IMF’s approval on July 6 of the disbursement of a $ 249.1 million tranche (about 650.760 million dinars).

Chahed agreed on the existence of public finance difficulties and expressed hope that 2018 would be the last difficult year for the country and that the 2019 budget law would be easier, assuring that there will be no new taxes on enterprises next year.

For his part, Mohamed Chabbeh, CEO of the PSZ which is a company specialised in the mechanical and metallurgical industries sector in Ksar Hellal (Monastir), announced the start of production of the 1st part of the project in Bouhjar in May 2019, with the creation of 500 jobs in addition to the creation each year of 400 to 500 jobs.

The turnover of the PSZ in Tunisia reaches 60 million dinars. It exports its production completely to Germany and the Netherlands