Bohuslav Sobotka’s visit commemorates the MOU between Nexen Tyre and the Czech government for a new plant in Zatec, Czech Republic. The MOU was signed one year ago.
Nexen Tyre signed an investment agreement with the Czech government last year, investing approximately $930.5 million USD to build a new plant on more than 2,130,000 square feet of land in Zatec.
According to Nexen, Zatec is strategically located near Germany, France and Great Britain, allowing the tiremaker to meet rising demands in Europe.
Operations at the plant will begin in 2018. Nexen plans to gradually increase the plant’s annual production capacity to over 12 million units.