SNUOL DISTRICT, Cambodia—China's Qingdao Doublestar Group held a cornerstone-laying ceremony recently for a tire plant it's building in Snuol District, in Cambodia's Kratie Province.
The new factory, designed with a nameplate capacity of 7 million passenger and 1.5 million truck/bus tires, is a joint venture involving Doublestar and Cambodia's U.B.E. Development Co. Ltd.
The project carries a budget of $210 million, Doublestar Tyre said. The plant will span 4.3 million square feet when complete.
Construction is expected to be completed within 15 months of groundbreaking, Doublestar Tyre said earlier this year, and once fully operational the enterprise is projected to deliver annual sales of up to $400 million with a net profit margin of about 20 percent.