1.4 Billion Yuan Tire Factory, Officially Laying The Foundation!
Recently, the Double Star Cambodian Tire Factory officially laid the foundation in Kratie Province.
Governor Watuo of Kratie Province in Cambodia, Chairman Chai Yongsen of Double Star Group, and Chairman Zhang Qirong of Zhongqi Group attended the groundbreaking ceremony.
It is understood that the total investment of the factory is about 1.44 billion yuan.
Its designed annual production capacity is 7 million semi steel radial tires and 1.5 million all steel radial tires. After reaching the production capacity, it will drive the local economic development, with an estimated annual income of 2.7 billion yuan.
Chai Yongsen stated that he chose to build a factory in Kratie Province because it has abundant resources, preferential policies, and geographical advantages.
This is an important action taken by the Double Star Group to actively respond to the "the Belt and Road" initiative and promote Cambodia's industrial and economic development.
At the same time, this is also a key measure for Shuangxing to implement the "localization" strategy, expand the international market, and promote high-quality development of enterprises.
It is reported that in 2020, Double Star embarked on a new journey of "three startups and creating world-class enterprises".
At present, the company is implementing the "New Four Modernizations" strategy around three main businesses and model innovation.
