Hankook to invest USD350 mln to expand production base in SW China
Hankook to invest USD350 mln to expand production base in SW China
South Korean tire manufacturer Hankook Tire, the seventh largest tire manufacturer in the world, plans to invest 350 million US dollars in the second phase of construction at its production base in Chongqing municipality, southwesternChina.
Phase Two is expected to begin production at the end of 2014.
According to the company’s plan, the Chongqing plant will be built in four phases, costing a total of 954 million US dollars.
The plant is Hankook's third production facility in China. Hankook Tire's first two Chinese plants are located in the eastern provinces of Zhejiang and Jiangsu, with a combined annual capacity of 30 million tires.
(Edited by Olivia, Olivia@tireworld.com.cn)
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