Bridgestone has begun the construction on a new car tyre plant in the Dinh Vu Industrial Zone in northern Hai Phong City, Vietnam, company’s first facility in the country.
The company is investing $575m in the new plant, which is claimed to be the largest Foreign Direct Investment (FDI) project in the manufacturing industry to date in 2012 and the largest FDI project in Hai Phong City.
The new facility is being built on a 102ha area, which will begin operations in 2014 and manufacture radial tires for passenger cars.
Bridgestone COO and representative board member Kazuhisa Nishigai said, "The global demand for tires continues to grow, and this plant will play an important part in helping us to meet the needs of our customers around the world."
According to the tyre maker, the new facility will begin its operations in March 2014 and the construction of the plant is expected to be completed in first half of 2016.
It will produce 24,700 tyres per day employing 1,900 people and the new facility will also export replacement tyres in Europe, North America and Japan.
