Chinese investment group announces €1.2bn tire project

Yongzhou, China – Chinese industrial investment major Shanghai Huaqing Petroleum Development Group has disclosed plans to build a tire plant in China's southern Hunan province.

The group signed an agreement with the local authorities on 11 Sept for the construction of the Yuan9.8 billion (€1.2 billion) facility.

Located in the Yongzhou economic development zone, the project is scheduled to be completed in multiple phases, reported the Hunan provincial government 13 Sept.

The “high-end, flexible, intelligent and green” tire production base is to have capacity of 21.75 million tire/year – said the statement without providing a timeline or details of product types.

The first phase, with an investment size of Yuan4.5 billion, is to be built in an area of 300 acres and will have an annual output of 7.25 million units of tires.

Five major technical “breakthroughs” will be employed at the facility, including flexible modular production process and all-electric nitrogen vulcanisers.

Furthermore, the unit will feature technologies for “seamless winding” for reinforcement materials and key components, as well as dynamic simulation design.