Sentury Tire, a Chinese tire manufacturing giant, will build a first Morocco tire facility in the North of the country, 35 km from Tanger-Med port, Africa’s largest container port which handles over half of all cargo going through Moroccan ports. The construction of the plant, to cover a surface area of 200,000m2 and to cost $300 million, will start this August. In December, Qingdao-based Sentury said it will invest nearly $300 million in self-raised funds to build an automobile tire plant with an annual capacity of six million units in the North African country. After the project is ready, Sentury will become the only tire maker in Morocco, hiking the firm’s competitiveness globally. China is the world’s largest tire producer and exporter as its output makes up over half of the world’s total.

Source: The North Africa Journal August 04, 2023 02:49 UTC