Sentury Morocco factory starts construction, annual tyre production capacity increased by 6 million

On 21 October, Sentury said it had officially started constructing its tyre factory in Morocco. On 25 October, the tyremaker said it would add $193 million to its Morocco plant for 6 million semi-radial tyre production capacity. Sentury classified the additional investment as the second phase of the Moroccan tyre factory project. In other words, the total investment in Sentury’s Morocco factory has become US$490 million. After both projects are put into production, it will be able to produce 12 million semi-steel radial tyres annually.

Tyrepress China learned that Sentury’s board of directors has reviewed and approved the investment plan for the second phase of the Moroccan factory. The tyre manufacturer said the construction period for the second phase will be 12 months. Its output in the first year of production was 3.6 million tyres. In the second year of production, it will have an annual production capacity of 6 million tyres. If the second phase project can achieve a production capacity of 6 million tyres, it will earn revenue of US$210 million a year.

It is worth noting that Sentury did not disclose the specific construction time of the second phase. It is not clear when the project’s second phase will be formally launched.

In addition, the investment in the second phase of the Moroccan factory project comes from Sentury’s “self-raised funds”. The tyre manufacturer said it “will invest funds in instalments based on the specific progress of the project. It will not affect the normal development of the company’s existing main business and will not significantly impact its financial status and operating results”.