Guizhou Tire begins $350 million construction project on two China factories
Guizhou Tire recently broke ground on two new tyre production facilities near the firm’s headquarters in Guizhou, Guiyang province. According to Asian Rubber Journal reports, when operational, the first – a $307 million plant – is expected to generate nearly $426 million annually. Capacity is salted to be 3 million truck tyres a year.
The facility is said to be the final phase of Guizhou Tire’s domestic relocation programme and includes construction of a separate, $41 million factory to manufacture “giant engineering tyres”. The second factory is expected to be complete in January 2021.
In addition to the company’s added Chinese capacity, Guizhou Tire’s $214 million production facility in Vietnam is predicted to generate about $150 million from overseas sales. The plant is located in Long Giang Industrial Park in Tien Giang Province and has a capacity of 1.2 million TBR tires annually.