Japan based Yokohama Rubber is planning to invest JPY11bn ($118m) to start the second phase expansion for Yokohama Tire Philippines (YTPI), a local subsidiary for manufacturing and selling passenger car tires, in May 2013.
According to the company, the expansion will help in increasing the production capacity of YTPI to 2.5 million tires per year.
Operations at the second phase of YTPI are expected to start in fall of 2014 with full-fledged production scheduled to commence in 2015.
The company said that annual production capacity of YTPI is expected to reach 12.5 million tires by the time the second phase expansion is completed.
In a bid to accommodate first and second phase expansions, the firm had expanded the facility's area to 46ha from the earlier 16ha.
