Sentury advances second phase of Moroccan tire plant

Sentury Tire Co., a leading Chinese tire manufacturer, is making significant strides in expanding its global footprint with the advancement of the second phase of its tire production plant in Morocco. Situated in Tangier, in the northwest region of the country, this project has received the necessary approvals from local authorities in Qingdao, China, paving the way for an investment of $193 million.

The second phase, which was initially announced in November last year, is set to bolster the plant's capacity by an additional 6 million units of radial passenger car and light truck tires. It is projected to reach full capacity within 24 months, significantly contributing to Sentury's production capabilities.

This development comes on the heels of the commencement of phase I of the project last summer, representing an investment of €297 million. Once both phases are completed, the combined investment in the Moroccan facility will total $490 million. At full capacity, the plant will be capable of producing an impressive 12 million units of tires annually.

Sentury's decision to expand the scope of the project was prompted by the inability of its Thai production plant to keep up with customer demand. By leveraging Morocco's strategic location, the company aims to optimize international trade opportunities.

In addition to its investments in Morocco, Sentury is forging ahead with a €500 million greenfield tire production project in Galicia, Spain. This initiative is part of the company's ambitious "833Plus" strategy, which aims to establish eight intelligent tire manufacturing bases worldwide over the next decade.

These global manufacturing bases will be complemented by three research and development centers strategically located in China, Europe, and North America. Currently, Sentury operates production facilities in Qingdao, China, and Rayong, Thailand, with plans to expand its operations to Spain to meet growing demand.

The Spanish plant, scheduled for completion in two phases over a 36-month period, will have a total annual output of 12 million radial tires. The first phase, expected to be finalized within 24 months, will have a production capacity of 6 million units, with plans to double production by 2025.

Sentury's ambitious expansion plans underscore its commitment to meeting the evolving needs of the global tire market while leveraging strategic partnerships and locations to drive sustainable growth and innovation.