EBRD supports agrees €16m loan to Varroc Lighting Systems Morocco

The European Bank for Reconstruction and Development (EBRD) has agreed a €16 million to Varroc Lighting Systems Morocco - the Moroccan subsidiary of the Indian motor industry's Varroc Engineering.

The financing will allow Varroc Engineering to supply the Tangier Renault factory and the Peugeot PSA plant in Kenitra, as well as to set up a research and development centre.