Dongying tyremakers set to build multiple projects in 2024

As an important manufacturing centre for China’s tyre industry, the tyre companies gathered in Dongying City, Shandong Province, have been relatively conservative in recent years and rarely build new projects. Meanwhile, many prominent local enterprises have fallen into the crisis of “interconnection and mutual protection”. Bankruptcy and reorganisation have become common occurrences in the Dongying tyre industry. On the other hand, China pursues policies of high-quality development and carbon emission control. Tyres are a high-energy-consuming industry, and it is not easy for new projects to get approval from the authorities.
However, the conservative situation seems to be changing in 2024. Multiple tyre projects have appeared in the “List of Key Municipal Projects in 2024” announced by the Dongying Municipal Government. The tyre companies involved include Zhongyi Rubber, Jiamei, Yongsheng Rubber and Wanda Boto. At the same time, Xingda and Daye, companies that manufacture tyre materials, also have building projects.
The projects of three tyre companies have entered the “construction list”. Zhongyi Rubber has applied for a project with an annual output of 12 million semi-steel radial tyres. Jiamei’s project involves 15 million sets of high-performance radial tyres and 80,000 tons of OTR tyres. Yongsheng Rubber applied for four projects. In addition to building a research and development centre, this company will transform its semi-steel radial tyre production line and operation management platform in 2024.
In addition, Wanda Boto’s new energy vehicle tyre project entered the preparation list.
The projects built by Xingda and Daye in 2024 are, respectively, “annual production of 100,000 tons of bead wire and 75,000 tons of steel cord” and “annual production of 200,000 tons of high-end wire rods, 100,000 tons of bead wire, and 150,000 tons of precision wire rods”.
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