On April 8, the groundbreaking ceremony of Holmes Tire's Cambodian production base was held in the Kratie Special Economic Zone.
Guo Junjie, manager of the production department of Zhongqi Overseas Group, announced the official start of the project.
At the ceremony, the leaders and colleagues present laid the foundation stone for the project with a salute.
This marks the official start of the new base of Vomax Cambodia Co., Ltd.
According to reports, the new factory has a total investment of 190 million US dollars (about 1.368 billion yuan) and covers an area of 40 hectares.
Its designed annual production capacity is 8 million semi-steel radial tires and 1.2 million all-steel radial tires.
Once operational, it will create about 1,500 jobs in the local area.
According to the tire world network, in recent years, Cambodia has become a hot spot for investment by Chinese tire companies.
Sailun Tire, General Motors, and Shuangxing Tire have all built factories in the region.
The factories of the first two enterprises have already been put into operation, and the construction of the Shuangxing Cambodia base is being intensified.
According to the data, Fumax Tire was established in 2011 and is a tire enterprise mainly engaged in foreign trade and export.
Its annual production capacity is 12 million sets of semi-steel tires and 1 million sets of all-steel tires.