KERMAN, Iran—Barez Industrial Group, Iran's top tire manufacturer, broke ground on the country's first giant OTR tire production project.
The project is in partnership with local investors.
Arg Tire will be built about 25 miles outside of the southern city of Kerman, where Barez already operates a production facility to produce 95,000 metric tons of passenger car, light truck, truck and bus, and industrial tires per year.
Four major local mining companies, as well as a Shasta investment fund, were stakeholders in the 30,000 metric ton plant and were fully funding the project, according to a Dec. 10 statement from Barez.
The facility will be built in an area spanning over 222 acres (90 hectares) and will be completed in three years, it added.
Once fully operational, the factory will employ 400 people and will meet "the entire" local market demand, Barez said.
It did not disclose the financial details of the project.
