China’s Sentury To Erect Morocco’s First Tire Plant

Sentury Time, a Chinese manufacturing giant, was licensed to build Morocco’s first tire facility over a surface area of 200,000m2, 35 km from Tanger-Med port.
The deal okaying the building works and operationalization was signed by the company’s manager Lin Wenlong and president of Tangier Technology City Development Jaafar Mrhardy.
The Qingdao-based Sentury said in December that it will invest almost 300Mln dollars in self-raised capital to construct a car tire facility in Morocco with an annual capacity of 6 million units.
The Chinese company will become the first tire maker in the country, benefiting from the free trade agreement that Morocco has with the US and Europe.
Sentury’s net profit improved by 6% to CNY801 million (USD 111.5 million) from 2021, while revenue increased by 22% to CNY6.3 billion (USD 876.8 million), according to the firm’s annual report.
China is the world’s largest tire manufacturer and exporter, accounting for more than half of global output.