Morocco : Shandong Daye Invests $200 million in a new factory in Tangier
Shandong Daye, a major player in the manufacturing of steel wires for tires in China, has announced its plan to invest $208.5 million in a factory at Tangier Tech, Morocco. This strategic choice is attributed to Morocco’s industrial strength and advantageous commercial positioning. The factory, to be built in two phases, is expected to produce up to 100,000 tons of tire wire and steel cables annually. This project strengthens Shandong Daye’s supply chain, aiming to meet the demands of clients like Michelin and Goodyear while adapting to global economic changes.
Morocco continues to attract foreign investment, with other notable projects such as Gotion High-Tech’s investment in the electric battery sector.
Tags: #Morocco #Investment #ShandongDaye #Industry #TangierTech