Chinese Sailun Group invests USD251 million to build new tire plant in Indonesia plant
Chinese tire manufacturer Sailun Group unveiled plans to invest USD251 million in constructing a new manufacturing plant in Indonesia, marking its latest move in expanding operations overseas. This announcement comes as the company's third international investment project since December of the previous year. The new facility, situated in the Jatengland Industrial Park in Demak, Central Java, Indonesia, is slated to manufacture 3.6 million radial tires annually, along with 37,000 tons of non-road tires. Sailun Group's shares, traded on the Shanghai Stock Exchange under the ticker symbol SHA: 601058, saw a marginal increase of 0.07%, closing at CNY14.32 (USD2.00) today.