China’s Shandong Linglong Tyre Co. Ltd. is planning to build a tire manufacturing plant in Serbia.
The plant in Serbia will be Linglong’s second overseas manufacturing base, located in the Zrenjanin Free Trade Zone in Serbia, a Linglong press release says. The project involves a $994 million investment. The facility is expected to have an annual capacity of HP radial tires reaching 13.62 million units.
Serbia is the first country in Central and Eastern Europe to establish a strategic partnership with China for investment, Linglong says. The project in Serbia will help Linglong to expand its European market, enhance the company’s international competitiveness, promote the company’s 5+3 strategic layout, effectively increase its market share and avoid trade barriers.
Construction is slated to start in April 2019 and be completed March 2025, according to SeeNews.
