Daye invests in Morocco bead wire and steel cord plant

Shandong Daye, a supplier of raw materials for tyres, has decided to invest 1.485 billion yuan (about £160 million; €190 million) to open a manufacturing centre in Morocco.

The Moroccan factory is planned to be carried out in two phases. The investment amount of the first phase project is 850 million yuan (about £92 million; €110 million), and it is planned to build a production line capable of producing 40,000 bead wires and 40,000 tons of steel cord per year in two years. The project’s first phase is scheduled to start construction in January 2025 and be completed and put into operation in December 2026.