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RABAT - Textile company Reciclados Tangier has signed a memorandum of understanding (MoU) with the Moroccan Ministry of Industry and Trade and the International Finance Corporation (IFC) to establish a textile recycling factory.

The new US$68.5 million plant will recycle pre- and post-consumer textile waste into raw materials for the manufacture of new yarns, fabrics and garments for the Moroccan, European and US markets.

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