CAMC Engineering, Tijan Petroleum to build tyre plant in Morocco.
China CAMC Engineering of Beijing has signed a contract with Tijan Petroleum of Saudi Arabia to set up a tyre manufacturing plant in Morocco, the engineering firm has reported.
The project is valued at $250 million and will be located in Kenitra, Morocco. The facility is expected to begin production in 2020 and will have an annual output of 3 million radial tyres for passenger cars and light trucks. CAMC Engineering vice president Hu Wei signed a contract on May 15 along with Tijan’s vice president Ibrahim Khayat to kick off the project.
The deal was witnessed by CAMC Engineering chairman Luo Yan and Tijan Petroleum executive vice president Ahmed Khayat. Established in 2001, China CAMC Engineering is an affiliate of China National Machinery Industry (SINOMACH). The company is involved in engineering procurement, construction projects, and domestic and overseas trade. Saudi-owned Tijan Petroleum is based in Jeddah. The company was established in 1998 and has dealings in shipping, petroleum and marine services as well as trading in lubricants, petrochemicals and crude oil.