Xinghua, Jiangsu – Jiangsu Xingda Steel Tyre Cord has broken ground on a significant expansion project at a company site in Xinghua, Jiangsu province.
Construction launched 28 Feb at the facility, which has €21 million (160 million yuan) investment earmarked for a designed annual capacity of 150 kilotonnes tire cord.
Located at Xingda’s existing site in Dainan Technology Park, it will cover 140,000 sqm total area with nearly 120,000 building floor area, said the company.
The project constitutes phase one of a two-phase expansion.
Phase two will have 200 kilotonnes annual capacity and receive €26 million investment. It will cover 307,000 sqm total area with 171,000 building floor area.
Xingda’s total annual tire cord capacity will exceed 1 million tonnes when the projects are in operation, said local government.
The firm also has 100 kilotonnes annual capacity at its Thai plant in Chonburi. It boasts a 27% market share in China and an 18% share globally.
The company is also a leading tire bead wire maker in China.