2nd Algerian tyre plant: Doublestar participating in JV

Buried within the more than 134 pages of Qingdao Doublestar’s latest semi-annual report is the news that the state-owned tyre maker will extend China’s ‘one belt, one road’ strategy by working with a local partner to establish a tyre production facility in Algeria. The Chinese-language document states that its subsidiary Hong Kong Doublestar signed a joint venture agreement with El Hadj Larbi Pneumatiques during the reporting period.

According to Doublestar, the plant will have the capacity to produce five million semi-steel radial car tyres a year and two million all-steel radial truck and bus tyres. The partners are investing US$250 million in the project; El Hadj Larbi will be the primary financial backer and is contributing $245 million. Doublestar will bring $5 million to the joint venture.

El Hadj Larbi and Doublestar will also set up a joint venture trading company in Dubai to sell the tyres produced in Algeria.

Comments
Comments closed

We see you are visiting us from China.

If you would like the latest news from the Chinese tyre industry in Chinese, visit our partner site TyrepressChina.com. Or click below to continue on Tyrepress.