Qingdao, China – Qingdao Sentury Tire Co. is planning to build a €522-million passenger car and light truck radial tire production facility in Galicia, northwest Spain, as part of its major global growth strategy.
The investment was reviewed and approved during Sentury’s latest board of directors meeting held 19 Dec, the Chinese tire maker announced.
The plant will have a total annual output of 12 million high-performance radial tires and will be completed in two phases over a 36-month period.
The first phase, expected to be completed in 24 months (2024) will have a production capacity of 6 million units.
By 2025, production will reach 12 million units, Sentury said, adding that the specific construction period will depend on the local construction conditions, and funding availability.
The project is part of Sentury’s recently announced 833plus strategic plan which aims to build a total of eight manufacturing sites, three research centres and three 'customer-experience' centres within ten years.