Japanese firm inaugurates tyre plant in Hai Phong

Friday, 2014-10-24 22:26:12
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Minister of Industry and Trade Vu Huy Hoang addresses the inauguration ceremony. (Image credit: VNA)
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NDO/VNA – Bridgestone Tyre Manufacturing Vietnam Co., Ltd (BTMV), a subsidiary of Japan’s Bridgestone Asia Pacific Pte. Ltd (BSCAP), launched its first tyre plant in Vietnam in the Dinh Vu Industrial Zone, the northern Hai Phong port city, on October 24.

With a total investment of US$447.8 million, the plant is the biggest foreign-invested project so far in Hai Phong city.

The BTMV plant began producing radial tyres in March this year with a capacity of 10,000 per day. This kind of tyre is environmentally friendly and helps minimise vehicles’ fuel consumption. The company hopes to increase its output to 49,000 tyres per day by the end of 2017, generating jobs for 3,800 workers.

Speaking at the launching ceremony, Minister of Industry and Trade Vu Huy Hoang stressed BSCAP’s selection of Hai Phong to place its plant proves that the city is an attractive destination to investors.

Teruo Kunitake, BTMV General Director said BSCAP wants to make contributions to the socio-economic development in Vietnam in general and Hai Phong in particular.

Bridgestone is now the biggest rubber and tyre producer in the world.

Apart from producing tyres, the firm also manufactures various products such as rubber, industrial chemicals and sporting apparatus. Its products are sold in 150 countries and territories worldwide.