Daye advances €180m steel tire cord, bead wire project in Morocco

Shanghai, China – Chinese steel wire and tire bead wire manufacturer Shandong Daye Co. has moved its planned Morocco investment into the implementation phase, according to a group statement 25 Nov.

The Shandong-based supplier unveiled the Yuan1.485 billion (€180 million) project in October last year, as part of its broader overseas expansion plan to serve European, African and Middle Eastern markets.

Preparatory work has already begun for the project, including market research, domestic filings, and registration of the overseas entity, said Daye in its latest announcement, adding that land-use procedures are also underway.

The project will largely focus on the group’s core steel-cord business, aiming to establish what Daye described as a regional “benchmark project”.

The Morocco venture, it said, will serve as a strategic “fulcrum” supporting domestic and overseas development.

Scheduled for operation in the first half of 2027, phase I of the factory will have the capacity to produce 40 kilotonnes per annum (ktpa) of bead wire and 40ktpa of steel cord.

This phase involves an investment of approximately Yuan850 million, according to previous Daye announcements.

Phase II, the timeline for which is not announced, will increase capacity for each product to 100ktpa with an investment size of Yuan635 million.