Chinese Tire Giant Invests $297 Million in New Morocco Factory

With a total investment of $297 million, this unit will allow the production of 3.6 million high-performance radial tires for cars and light trucks in the first year of production, reports the Chinese media Caijing. The work is scheduled to last 18 months. Ultimately, the plant should increase its annual production capacity to 6 million tires.

According to the Chinese company, Morocco is considered the "bridgehead" in North Africa of the "New Silk Road", and, as such, it is the best suited to host such a project. The fifth largest economy in Africa, the kingdom is a hub connecting the three major markets of the European Union, the Middle East and Africa, making it an important strategic point, the same source specifies.

According to Sentury’s forecasts, after the completion of the project, the company’s turnover should reach $210 million with a total profit of $51.88 million US in a normal year.