Tangier Tech: Chinese giant Guizhou Tyre commits nearly 3 billion dirhams to a next generation tire plant in Morocco
The Chinese group Guizhou Tyre, one of the major players in the global tire industry, is taking a new step in its international expansion by announcing a strategic investment in Morocco. The manufacturer has formalized the establishment of a smart plant dedicated to the production of semi steel radial tires, at the heart of Mohammed VI Tangier Tech City.
This large scale industrial project represents a total investment of 298.72 million dollars, or nearly 3 billion dirhams, and targets an annual production capacity of 6 million tires. Approval of the project was announced on January 5 following a meeting of the group’s board of directors, according to information reported by the Chinese business media outlet Sina Finance. The construction period of the plant is estimated at two years.
Through this facility, Guizhou Tyre aims to strengthen its presence on international markets, optimize its global industrial footprint and expand its commercial offering under its Advance and Samson brands. The economic outlook associated with the project is considered solid, with forecasts pointing to average annual revenues exceeding 182 million dollars and net profit approaching 41 million dollars.
Currently in the preparatory phase, the future Tangier Tech unit will allow the group to improve the reliability of its supply chain, shorten delivery times and strengthen its export positioning, particularly toward the European market, thanks to the Kingdom’s strategic geographic location and the quality of its infrastructure.
This new announcement confirms the growing interest of Chinese manufacturers in Morocco, already illustrated by the presence of Sentury Tires, which has been operational in Tangier for two years. With this project, Guizhou Tyre becomes the second Chinese tire manufacturer to produce in Morocco, further reinforcing the attractiveness of Tangier Tech as a leading industrial hub.
Through these structuring investments, Morocco is consolidating its role as a regional automotive and industrial hub, attracting high value added foreign capital, fostering the creation of skilled jobs, the transfer of know how and the strengthening of exports. A dynamic that confirms the credibility of the Made in Morocco label on global markets.
Translated from Abderrazzak Boussaid’s French article – le7tv
