Shandong Daye to build $208.5M tire steel plant in Tangier, Morocco

Shandong Daye, a Chinese manufacturer of steel wire for tires, plans to invest $208.5 million in a new production facility in Morocco's Tangier Tech industrial zone. The plant will produce up to 100,000 tons of tire bead wire and 100,000 tons of steel cables annually, with phase one expected to be completed by late 2026.

“The move is aimed at mitigating the effects of shifting economic conditions and international trade frictions, allowing the company to quickly adapt to market demands.”moroccoworldnews.com

• 1 source
• moroccoworldnews.comChinese Tire Giant Shandong Daye Invests $208M in New Moroccan FactoryNov 1, 2024

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