PHNOM PENH, Sept. 6 (Xinhua) -- Newbustar (Cambodia) Tire Co., Ltd., a Chinese-invested car tire plant in northeastern Cambodia, was launched on Friday after a 16-month construction, according to the Cambodian Investment Board of the Council for the Development of Cambodia (CDC).
Speaking at the event, CDC Secretary General Chea Vuthy said the Newbustar (Cambodia) Tire Co., Ltd., a subsidiary of China's Qingdao Doublestar Group, has decided to invest about 140 million U.S. dollars to build the car tire plant on a 40-hectare parcel in the UBE Special Economic Zone in Snuol district.
"This car tire plant will help diversify Cambodia's economy, contribute to our socio-economic development, and create jobs for our locals," he said.
In March 2023, a 300-million-U.S.-dollar General Tire Technology (Cambodia) plant, a subsidiary of Chinese tire maker Jiangsu General Science Technology, also launched its operation in the Sihanoukville Special Economy Zone in the southwest coastal city of Sihanoukville.
Vuthy said currently, five car tire manufacturing projects have been carried out in special economic zones across Cambodia.
He added that the Southeast Asian country has 26 special economic zones accommodating 775 investment projects with a total investment capital of about 10 billion dollars, generating approximately 180,000 jobs. ■