Cambodia announces two new tire investments

Phenom Pehn – Cambodia attracted two new investments in tire projects in April, according to data published by the Council for Development of Cambodia (CDC).

In a 6 May release, CDC said Cambodia attracted 59 investment projects in April, with a total investment of $860 million (€758 million).

These include two milestone tire projects, including a $242 million investment to build a greenfield tire manufacturing plant in the ISI Special Economic Zone Preah Sihanouk province.

The CDC release did not mention the name of the investor but said the project is expected to create over 2,400 jobs once completed.

Another tire-related project is a $93 million tire expansion plan at the Qilu Special Economic Zone in Svay Rieng province.

The release did not provide the name of the investor but currently, two Chinese tire makers, Sailun Group and Wanli Tire, are currently operating production plants in the province while Zodo Tire is constructing its factory there.

In January, Sailun Group unveiled a $93.5 million investment plan to expand production capacity at its tire manufacturing site in Svay Rieng province, Cambodia.

At the time, the Chinese group said it was investing the amount – including $61.2 million for construction and $32.3 million in working capital – to expand production capacity for all-steel truck and bus radial tires at the site.

Set for completion in nine months, the project will add capacity for the production of 1.65 million units of TBR tires per annum once fully ramped up.