Jiangsu General Science Technology announces €240m expansion project at Thai tire plant

Shanghai, China – Jiangsu General Science Technology Co. Ltd has announced plans to invest Yuan1.9 billion (€240 million) to nearly double production of high-performance radial tires at its plant in Rayong, Thailand.

The project will add 500,000 all-steel truck & bus radial (TBR) tires and 6 million passenger car radial tires to the site's annual capacity, said a 28 Aug company filing to the Shanghai Stock Exchange.

Operational since 2020, the operation run by subsidiary General Rubber (Thailand) currently has capacity to produce 1 million TBR tires and 6 million passenger car tires.

The construction period for the expansion project is expected to take 24 months, said the group without providing a start date.

"At present, the factory's production and sales are booming, and the supply of products is in short supply," Jiangsu General Science Technology stated.

The factory, the group also noted, has reached strategic cooperation with "many leading customers in North America and Europe".

"This expansion project is conducive to further enhancing the company's operating capabilities and international market competitiveness," it added.

This is the second major investment announcement by Jiangsu General Science Technology in recent months.

In May, the Chinese group unveiled plans to establish a €196-million greenfield tire manufacturing plant in Baotou, Inner Mongolia.

The facility is to have capacity to produce 1.3 million high performance radial tires per year, including 1.2 million TBRs and 100,000 units of off-road tires.

Also in May, the group started production at its tire plant in the southwestern Cambodian province of Sihanouk.

The facility has a nameplate annual capacity of 5 million passenger car tires and 900,000 units of all-steel TBRs.