SHENZHEN, China—Qingdao Sentury Tire Co. Ltd. has announced the details of its $297 million tire production project in Morocco.
The announcement follows the company receiving a "certificate of overseas investment of enterprises" from local authorities in Qingdao.
In a June 5 stock exchange filing, the Chinese tire maker said it had completed registration of Sentury Tire (Morocco) Co. in Tangier, Morocco.
Construction work on the project is set to begin in July and is expected to take 18 months to complete, Sentury said.
Once fully operational, the plant will have capacity to produce 6 million car and light truck tires per year, with output in the first year reaching 3.6 million units.
In addition to the Morocco investment, Sentury is progressing with a planned $590 million greenfield tire production project in Galicia, northwest Spain.