The 2.99 trillion VND (141 million USD) plant is equipped with state-of-the-art production lines and equipment, allowing it to produce 600,000 high-quality tyres a year. It will be the first plant in Southeast Asia to successfully manufacture tyres for heavy-duty trucks used in the mining industry.

The factory is expected to generate jobs for nearly 1,000 local people and contribute 200 billion VND (9.4 million USD) to the State budget.

Addressing the inauguration ceremony, Deputy Prime Minister Nguyen Xuan Phuc highly valued the company’s efforts in making the plant operational.

He added that the opening of the plant shows that the company is making the most of the country’s plentiful rubber resources.

On the occasion, the Da Nang Rubber Joint Stock Company signed a contract to provide 10,000 products per month for the Singapore-based Stamyord Tyres International Pte. Ltd.