Guangzhou, China — China's Guangzhou Vanlead Group Co. Ltd. has put on hold indefinitely plans it announced a year ago to invest $1 billion (€0.9 billion) in a tire plant in South Carolina.
Guangzhou Vanlead, a China state-owned entity that controls Wanli Tire Group, had proposed building a tire plant in Orangeburg County, South Carolina, capable of producing 6 million consumer tires annually in the eight-year project's first phase.
Sources at the Orangeburg County Development Commission (OCDC) confirmed recently that the project is in "neutral," although the OCDC hasn't ruled out completely that it may still come to fruition.
The commission has begun showing other prospective clients the as-yet unidentified plot of land that the Wanli plant was supposed to occupy.
A Wanli source in China confirmed the project's status, saying the company is evaluating alternative locations in Southeast Asia and Middle/Eastern Europe.