Guizhou Tyre advances passenger car tire project in Vietnam

Shenzhen, China – Guizhou Tyre has progressed its plans to build a new passenger car tire factory in Vietnam, in addition to an ongoing project for the production of truck & bus radial (TBR) tires in the country.

In a 28 Sept stock exchange filing, the Chinese group it had completed all approval and filing procedures for ‘Vietnam Phase III’ project, which was initially unveiled in March. (ERJ report)

The expansion programme will see the group investing $227 million (€207 million) in the new factory, to be located at the Long Jiang Industrial Park, in Vietnam's Tien Giang province.

The ‘intelligent radial tire facility’ will have capacity to produce 6 million units of passenger car tires per year, said Guizhou Tyre's securities statement.

Production, according to the Chinese tire manufacturer, is slated to start in two years with ramp-up to full capacity anticipated over four years.

The move to build a new PCR unit follows Guizhou Tyre’s completion of the earlier phases of its TBR facility at the same location: Initially to produce 1.2 million units of all-steel radial tires and the addition of 950,000 ‘high-performance’ TBR tires in the second phase.

Guizhou said in its statement that it will “actively pursue” the construction of the third phase and aims to put the project it into production “as soon as possible.”