Bridgestone's Chinese subsidiary Bridgestone Shenyang Tire will invest about $299.7m to build a new tyre manufacturing facility at the Shenyang Chemical Industry Park in China.
The company's current Shenyang plant located in Shenyang City in China will be moved to the new manufacturing facility, which has obtained the approval for construction of manufacturing facility and the tire production.
Relocation was prompted by the urbanization plan in the area surrounding the Shenyang Plant under the Shenyang City development policies.
In addition to the construction, the investment will also be used for production equipment for the plant that is scheduled to start operations by 2014.
Production capacity of the new plant is expected to be about 5,000 tires per day that will include radial tyres for the trucks and busses, claims the company.
The new production facility will have a space of 395,000sqmts.
