Groundbreaking Ceremony Marks Commencement of US$138 Million Tire Factory Construction in Kratie

• 9 May 2023
• Local News
• 4219 Views

In a momentous occasion for the industrial landscape of Kratie province, the construction of NEWBUSTAR (Cambodia) Tire Co., Ltd’s state-of-the-art car tire factory, with a staggering investment of US$138 million, officially commenced on 9th May 2023.

The auspicious groundbreaking ceremony, graced by the presence of HE Wat Thorn, the esteemed Governor of Kratie Province, and Mr. Chhay Yon Son, President of New Bass Star Cambodia Tray Co., Ltd., alongside an assemblage of distinguished guests, marked the initiation of this transformative project.

Encompassing an expansive area of 40 hectares, the tire factory is poised to become a symbol of progress and innovation in the region. With the first phase of construction scheduled for completion in October 2023, this ambitious endeavor represents a significant stride towards boosting the province’s economic growth and industrial development.

NEWBUSTAR (Cambodia) Tire Co., Ltd., a subsidiary of Double Star, a prominent enterprise from Qingdao, Shandong Province, People’s Republic of China, has invested its resources into this colossal venture. The company’s commitment to excellence and cutting-edge manufacturing technologies will undoubtedly position the factory as a paragon of tire production within the region. (Read more)

HE Vathorn, in his address during the ceremony, expressed profound appreciation for the remarkable progress and achievements witnessed within the UBE Snuol Special Economic Zone. He acknowledged the invaluable contributions of the Snuol District Administration and Kratie Provincial Administration in fostering a conducive environment for economic advancement.

Additionally, HE Vathorn urged the Chairman of the UBE Special Economic Zone to persist in attracting investors from the People’s Republic of China and other nations. Encouraging investments across diverse sectors such as agriculture, industry, mining, trade, tourism, and culture, he highlighted the immense potential that Kratie possesses.

As the tire factory takes shape, it heralds a new era of industrial prowess and economic prosperity for Kratie. The visionary investment and collaborative efforts between local and international stakeholders serve as a testament to the province’s growing prominence in the global manufacturing landscape.

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