Guizhou Tire Clears Investment Procedures for €250m Morocco Plant

Guizhou Tire Co. Ltd., a Chinese tire maker, has completed the overseas investment registration for its planned 6-million-unit passenger car radial tire plant in Morocco, clearing the domestic approval procedures required for the project. The company’s wholly owned subsidiary, Guizhou Qianjin Tire Investment, received an ‘enterprise overseas investment certificate’ from the Guizhou Provincial Department of Commerce. With all required domestic approval and registration procedures now completed, Guizhou Tire will focus on accelerating work on obtaining site approval and establishing the Moroccan subsidiary, with the aim of starting construction of the project ‘as soon as possible.’ The project, announced in January, involves an investment of €250m for a passenger car tire plant at Tangier Tech City, representing the Chinese tire maker’s second overseas manufacturing facility.