CHUNGHWA, Taiwan — Cheng Shin Rubber Industrial Co. Ltd.'s new plants in India and Indonesia will start production this year, the Taiwanese tire maker disclosed at its recent investor conference.
The company, which goes to market under the Maxxis International name, announced its intention to build the Indonesian plant in 2013 and the Indian plant in 2015. Together, the two plants represent $720 million in investment, according to the earlier announcements.
The India plant, located in Gujarat province, has 20,000 unit daily capacity for motorcycle tires and tubes in phase one.
"The plant has been completed…and is waiting for regulatory approval to go on stream," Lo Yung Li, Cheng Shin's assistance vice president, said at the conference.
Cheng Shin budgeted $400 million for the plant.