18 Jan 2011
ERJ staff report (DS)
Rayong Province, Thailand -- The Nation newspaper in Thailand is reporting on a major investment deal between Hangzhou Zhongce Rubber, and Thai NR trading house, Thai Hua Rubber. The Chinese tyre maker will take 85 percent of the equity.
The deal involves a 5-billion baht (euro 122 million) car-tyre factory in Rayong Province as well as a large trading centre and wholesale unit in Chiang Mai. The tyre factory would be Hangzhou Zhongce's first outside China and is expected to start production in 2012.
Thailand's Prime Minister Abhisit Vejjajiva was due to preside at a ceremony yesterday (17 January) to mark the deal.
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Huge Thai-China project launches today The Nation (Thailand)
Thai Hua in JV with Chinese tyre maker The Nation (Thailand)
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