Chinese Tiremaker to Build $300 Million Plant in Thailand
Jiangsu General Science Technology Co. Ltd. has decided to ditch Cambodia for Thailand as the location for a planned $300 million tire production plant — a move to tap local demand and cheaper costs in the world’s largest rubber producer.
The Chinese tiremaker also said it is investing $80 million to set up a Thai subsidiary as part of a broader plan to build its first overseas facility.
The Wuxi, Jiangsu province-based firm said in a filing (link in Chinese) to the Shanghai Stock Exchange on Tuesday that the facility in Rayong province, an industrial park about two hours by car from the Thai capital of Bangkok, will be able to save on costs, including import taxes and transport costs for natural rubber.
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