Chinese Tire Giant Sentury Shifts $313 Million Investment from Spain to Morocco

Approximately 313 million pounds sterling. This amount initially planned for a new plant in Spain has been redirected to the Sentury Tire plant built in the Cité Mohammed VI-Tanger Tech. This decision is justified by delays in obtaining authorization from Spain, reports Tyrenews. The prolonged approval processes in the peninsula remain currently undefined. Faced with this situation, the Chinese company has given priority to the development of its plant in Morocco, already crowned with success.

This investment will therefore allow the development of this plant and make it a hub for the Chinese giant of tire manufacturing, with plans for the production of 12 million passenger car tires per year, reports the same source, adding that this production target will be achieved in two phases, each designed to accommodate 6 million tires. Started in October 2023, the construction of the two phases continues, with a tight schedule providing for completion within 12 and 18 months. The two phases should be completed by October 2024 and April 2025.

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In January 2023, Sentury Tire had announced an investment of nearly $300 million for the construction of a plant in the Cité Mohammed VI-Tanger and had acquired a plot of land with an area of 200,000 m2 (20 hectares) located in the new economic zone 35 km from the Tanger Med port. The factory is being built on an area of 2,167 hectares. The cost of the project is estimated at 9.5 billion dirhams. This is the manufacturer’s third site outside China, after those based in Thailand and Spain.