HEFEI, China—Giti Tire Co. Ltd. plans to relocate its tire site to a new location in the Anhui province in response to to complaints regarding environmental issues. The move from Hefei to Changfeng County was approved this month by Hefei authorities.
The new park has a $1.1 billion investment earmarked and covers 1.7 million square meters of total area, according to a government statement. Total floor area will reach 720,000 square meters.
The park also will house a new plant in addition to the relocated facilities. Construction of the new plant will begin in September, and it will be completed by the end of 2026, according to an earlier statement.
Relocation of the old plant will start in May 2025 and wrap up by 2026 as well, it said.
When in full operation, the park will be able to produce more than 20 million passenger car tires and more than 2.6 million truck and bus tires annually. It will generate $925 million in production value each year.