The Danang Rubber Joint Stock Company inaugurated a major new steel radial tyre plant in the central city’s Lien Chieu Industrial Park on June 29.
The US$141 million, equipped with state-of-the-art production lines and equipment, is capable of producing 600,000 high-quality tyres a year. It will be the first plant in Southeast Asia to successfully manufacture tyres for heavy-duty trucks used in the mining industry.
The factory is expected to generate jobs for nearly 1,000 local people and contribute US$9.4 million to the State budget.
Addressing the inauguration ceremony, Deputy Prime Minister Nguyen Xuan Phuc praised the company’s efforts in making the plant operational, adding that the opening of the plant shows that the company is making the most of the country’s plentiful rubber resources.
On the occasion, the Da Nang Rubber Joint Stock Company also signed a contract to provide 10,000 products per month for the Singapore-based Stamyord Tyres International Pte. Ltd.