Qingdao Shuangxing Group recently announced that its new factory project in the Special Economic Zone in Kratie Province, Cambodia is progressing steadily. This key project, which aims to produce high-performance radial tires with an annual output of up to 8.5 million tires, has completed important development and reform and business filing procedures in May 2023, and has successfully held a groundbreaking ceremony.
This one occupies an area of 14The 3.8 billion yuan investment plant is located in the special economic zone of Kratie Province, which is rich in resources and has preferential policies. Its construction not only injects vitality into the local economic development, but also marks the further expansion of Shuangxing Group in the global market. The construction of the plant has overcome the challenges posed by the rainy season, and the works are progressing smoothly, demonstrating the strong project management capabilities and strong commitment of Double Star Group to the international market.
It is understood that the commissioning of the factory will not only greatly increase the production capacity of Shuangxing, but also expect an annual revenue of 2.7 billion yuan and an estimated profit of 500 million yuan. This not only reflects the strategic vision of Shuangxing in the global layout, but also an important milestone in its strategy of accelerating overseas factory construction and expanding the international market. Through this strategic layout, Shuangxing will not only be able to better serve international customers, but also further enhance its competitiveness in the global tire industry.