Bridgestone Tire Manufacturing Vietnam, an affiliate company of Japan’s Bridgestone Corporation today received an investment certificate to build a passenger car tire manufacturing plant in Haiphong port city’s Dinh Vu Industrial Zone.
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The new facility capitalised at $575 million with production capacity of 24,700 units per day in stable production year covers over a surface of 102.43 hectares in the zone.
This is the fiftieth plant of Bridgestone Corporation in the world. The Japanese group currently produces new tires at 47 plants in 20 countries. After the start-up of a new plant in India, a plant for large and ultra-large off-the-road radial tires for construction and mining vehicles in the United States, and this new plant in Vietnam, Bridgestone will have a production system of 50 plants in 21 countries.
The new plant in Dinh Vu will start production in the first half of 2014. Once the products are launched, they all will be exported. The project shall create a job for a total of 1,900 employees.
Dinh Vu Industrial Zone is proud to have Bridgestone Tire Manufacturing Vietnam as its fifth Japanese investor, following Nakashima (propeller production), RK Engineering (steel tank production), SIC (LAS production), Shin-Etsu (rare earth magnet production).
Bridgestone has selected the Dinh Vu Industrial Zone because of its strategic location, its access to the port located directly in the zone, the availability of reliable utilities, and the best tax incentives applied for economic zone.
After achieving the development of its first phase of 164 ha, Dinh Vu Industrial Zone is currently developing and marketing its second phase of 377 ha.
At the end of 2011, Dinh Vu Industrial Zone has put into operation its waste water treatment plant with a capacity of treatment for 2,500 cubic metres per day.
The Dinh Vu Industrial Zone is a multi industry zone allowing its client to create synergy between each others. Dinh Vu Industrial zone welcomes clients in its petrochemical area, its heavy industry area and its general light industry area.
With the approved licence of Bridgestone Tire Manufacturing Vietnam records more than $1.5 billion investment capital in the zone, of which Japanese investor representing about 45 per cent of the total investment capital. It is expected that the zone shall welcome $100 million more by the end of 2012.