Tire World Network learned that the Council for the Promotion of International Trade in Dongying City, Shandong Province led enterprises to go to sea in March and achieved fruitful results.
The visit to Indonesia, Thailand and Vietnam was led by Zhang Ling, president of the Dongying Council for the Promotion of International Trade.
Among them, Wanda Baotong signed an all-steel tire sales contract with Indonesia's Altamas Prosperity Company.
The contract amount reached 20 million US dollars (about 145 million yuan).
Jinyu Tire and Vietnam Saigon VRG Investment Holding Co., Ltd. signed a cooperation agreement to invest in the construction of an all-steel radial tire (TBR) production line with an annual output of 2 million.
The investment amount is as high as 190 million US dollars (about 1.375 billion yuan).
In addition, Wanda Baotong, Fangxing Rubber and other enterprises have negotiated with more than 20 buyers in Thailand and reached more than 30 intended orders.
According to Tire World Network, at the end of March 2021, the first tire of Jinyu Tire's Vietnam all-steel plant rolled off the assembly line.
At present, the plant has a production capacity of 6,000 pieces per day.
On December 12, 2023, Jinyu Tire's "Vietnam Annual Output of 3 Million Semi-steel Tire Project" was officially laid.
It is reported that the overall design annual production capacity of its semi-steel plant is 10 million, which will be built in three phases.
The first phase of the groundbreaking project is expected to reach production in 2025.