Shandong Tire Enterprises Expand Investment in Southeast Asia
According to the Shandong Provincial Development and Reform Commission's official website, Shandong Linglong Tire and Shandong Aogerui Tire will build radial tire projects in Thailand and Indonesia respectively.
The two projects have been respectively approved by the National Development and Reform Commission, which is the annual production of 11.2 million sets of high-performance radial tires project invested by Linglong Tire in Thailand, and the annual output of 8 million sets of semi-steel meridians invested by Shandong Ogori Tire Company in Indonesia. Tire project, and 2 million sets of all-steel radial tire projects. The total investment of these projects is nearly 900 million U.S. dollars, and the annual acquisition of natural rubber is about 90,000 tons, and the transfer capacity is 21.2 million sets.
Last year, the tire industry in Shandong Province produced more than 380 million sets of tires, accounting for nearly half of the country's total, accounting for more than 15% of the world's total production, and maintained a 30% growth rate for many years, far exceeding market demand.
The Shandong Provincial Development and Reform Commission believes that the investment will further promote the tire industry in Shandong Province to increase capacity utilization, avoid trade barriers, and obtain affordable rubber resources with adequate supplies.
Since 2011, Shandong tire companies have further increased their investment in Southeast Asia, and have obtained about 500,000 tons of natural rubber and nearly 40 million sets of transferred tires.
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