Linglong Tire announced Mar. 13 to invest in two programs this year.
The two belongs to Guangxi Linglong Tire Co., Ltd. and Linglong International Tire (Thailand) Co., Ltd., respectively, and the overall investment was nearly 2.19 billion yuan.
Guangxi Linglong received additional capital of 700 million yuan for the construction of radial tire production program in Liuzhou.
At the same time, Linglong Tire is about to launch the third phase program in Thailand
The program in Thailand has a total investment of nearly 1.49 billion yuan, including about 1.13 billion yuan for equipment, in which one billion yuan is from bank loan.
When the program enters full operation, it will produce 4 million sets of high-performance tires annually, including 3 million sets of semi-steel tires, 600,000 all-steel radial tires, 360,000 high-performance trailer tires, and 40,000 sets of special tires.
The Thailand program is scheduled to start construction in Mar. 2018 and be completed in Aug. 2019.
