Guizhou Tyre revealed plans regarding the plant in Morocco

Guizhou Tyre has revealed details of its planned project to build a new tire factory in Morocco. According to the company's report, the new enterprise will be invested with $299 million, and its capacity will be 6 million passenger car tires per year.

The new factory is planned to be built within two years, however, the company does not specify when the construction will begin. The production will be located in the Mohammed VI Tangier Tech City, a new high-tech city being built in partnership with Chinese investors, and will be managed by a new subsidiary called Advance Tyre Morocco Co., Ltd.

The new factory is expected to generate an annual revenue of $182 million and a profit of $41 million.

Guizhou Tyre says that the Moroccan project is part of a strategy aimed at internationalizing the business, and will allow for the expansion of the use of intelligent and eco-friendly technologies, as well as increasing the company's competitiveness in the global market.

"The new factory will further improve the structure of our product range, optimize production capacity, and increase our resilience to risk impacts," the company adds, which currently produces tires in China and Vietnam.

Photo: tme.ma