$500 million auto tire factory goes into operation

Kinhtedothi - On December 14, after more than 1 year of construction, the $500 million auto tire factory project on a 43-hectare land plot of HAOHUA Company Limited (Vietnam) in Minh Hung - Sikico Industrial Park ( Binh Phuoc province) officially came into operation.

The automobile tire factory of HAOHUA Company Limited (Vietnam) in Binh Phuoc officially came into operation.

Attending the inauguration ceremony were Deputy Prime Minister Tran Hong Ha; former President Nguyen Minh Triet; Member of the Party Central Committee, Deputy Head of the Party Central Committee's External Relations Commission Nguyen Manh Cuong; Member of the Party Central Committee, Secretary of the Binh Duong Provincial Party Committee Nguyen Van Loi; leaders of central departments, ministries and branches; and the Chinese Consulate in Ho Chi Minh City.

On the side of Binh Phuoc province, there were alternate member of the Party Central Committee, Secretary of the Provincial Party Committee Ton Ngoc Hanh; Standing Deputy Secretary of the Provincial Party Committee, Chairwoman of the Provincial People's Council Huynh Thi Hang; Deputy Secretary of the Provincial Party Committee, Chairwoman of the Provincial People's Committee Tran Tue Hien; leaders of departments, branches, districts, towns and cities.

The automobile tire factory project of HAOHUA Company Limited (Vietnam) started construction in September 2023 with a total investment of 500 million USD, a production capacity of 14.4 million tires per year, equivalent to a revenue of nearly 679 million USD, this is the largest automobile tire factory in Vietnam at present.

When the project comes into operation in November 2024, HAOHUA Group will continue to invest an additional 280 million USD in phase 2 to expand the factory by 31 hectares of land.

After both phases of the factory project are completed, the total capacity will increase to 24.4 million tires per year, equivalent to revenue of about 1.1 billion USD.

Deputy Prime Minister Tran Hong delivered a congratulatory speech to HAOHUA Group and Binh Phuoc province.

Speaking at the inauguration ceremony, on behalf of the Government, Deputy Prime Minister Tran Hong Ha congratulated HAOHUA Group and Binh Phuoc province when phase 1 of HAOHUA tire factory officially came into operation.

The Deputy Prime Minister affirmed that the Government and Binh Phuoc province are committed to creating a favorable legal environment, protecting the legitimate rights and interests of enterprises in any case, always accompanying enterprises, overcoming difficulties and challenges for stable and long-term development, in the spirit of "harmonious benefits, shared risks".

Source: https://kinhtedothi.vn/binh-phuoc-nha-may-san-xuat-lop-o-to-500-trieu-usd-di-vao-hoat-dong.html