A leading Chinese tire manufacturer, Sailun Co. Ltd. said its Vietnam subsidiary will invest up to 200 million U.S. dollars in tire production in the Southeast Asian country.
Sailun is based in east China's Shandong Province and trades on the Shanghai Stock Exchange. In a disclosure on Thursday it said that the investment will be used to build more production lines in Vietnam.
Construction will take three years. Upon completion, it will produce 1.2 million all-steel radial tires and 30,000 tonnes of off-the-road tires every year.
Vietnam boasts abundant natural rubber, a key material in tire manufacturing.
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