Around £313 million. This amount initially planned for a new factory in Spain was redirected to the Sentury Tire factory built at the Cité Mohammed VI-Tanger Tech. This decision is justified by the delays in obtaining authorization from Spain, reports Tire News. Protracted approval processes on the peninsula currently remain undefined. Faced with this situation, the Chinese company has given priority to the development of its already efficient factory in Morocco.
This investment will therefore make it possible to develop this factory and make it a hub for the Chinese tire giant, which plans to produce 12 million tires for passenger cars per year, indicated the same Source, specifying that this production objective will be achieved in two phases, each designed to accommodate 6 million tires. Starting in October 2023, construction of the two phases continues, with a tight schedule providing for completion within 12 and 18 months. Both phases are expected to be completed by October 2024 and April 2025.
In January 2023, Century Tire announced an investment of nearly $300 million for the construction of a factory in the Cité Mohammed VI-Tangier and acquired 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 located 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.
