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Sentury Tire shifts £313m investment to Morocco as Spain approval delays

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Chinese manufacturer of tires for cars and aviation Sentury Tire announced the reallocation of approximately £313 million (2.8 billion RMB) originally intended for a new factory in Spain towards enhancements at an existing plant in Morocco.

Tyrenews said that this decision was prompted by protracted approval processes in the Iberian country, which remain currently indefinite, prompting the Chinese firm to prioritize the advancement of its already successful Moroccan facility.

The Sentury Tire factory constructed in Morocco is poised to emerge as a pivotal hub for the Chinese company, with plans to manufacture 12 million passenger car tires per year, according to the same source.

This production goal will be realized through two phases, each designed to accommodate 6 million tires.

Construction on both phases began concurrently in October 2023, establishing a sturdy timeframe for completion within 12 and 18 months, respectively. The objective is to have both phases operational by October 2024 and April 2025.

In August 2023, Sentury Tire obtained property for the construction of Morocco’s first tire factory, which cost USD300 million. company’s General Manager Lin Wenlong finalized an agreement with the Managing Director of Tangier Med Zones Jaafar Mrhardy for the purchase of approximately 200,000 square meters of land near Africa’s largest container port and to confirm the Moroccan partner’s involvement in the facility’s construction and operation.

The facility is said to be located 35 kilometers away from Tanger-Med Port, which handles more than half of all goods passing through Moroccan ports.

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