The Casumina Radial at Tan Uyen South Industrial Zone commenced operation on April 19.
The steel-truck tire manufacturing plant is located in Tan Uyen District, Binh Duong Province and is owned by Southern Industry Rubber Corp.
The manufacturing plant has capacity to produce one million tires per year, said Pham Phu Hong, general director of Casumina.
It uses modern production lines to product multiple types of tires. The plant has the technology to convert nylon into steel.
The plant includes technology from US, Italy, and Japan. It was built with a total investment of VND 3.4 trillion, covering an area of 120,000 square meters. The plant has over 1,200 employees.
The company pays VND 500 billion in taxes, said Hong. It is expected to gain VND 5 trillion in revenue from Casumina Radial to meet market demand.
Deputy Prime Minister Hoang Trung Hai attended the opening ceremony.
The plant is a good investment for the industry and we hope it contributes to the economy while also heightening competition, said Hai.