London - Saudi Arabian National Tire Co. (NTC) has signed a MoU with South Korea’s Samsung Engineering for the engineering, procurement and construction of a $1.6-billion tire plant in Saudi Arabia.
The scope of the project has been expanding from the original $1 billion announced in January, Farid Dudin, general manager of Victoria Trading FZCO and project leader told ERJ,
The 20-million-units-per-year project at a 1.4 million square-metre site in Jubail is expected to start rolling out first batches of tires by the end of 2020.
