GS Celimo Tires signed to move into Cambodia's SPSEZ

21 December 2021 | Source from China Rubber Web

Video spans 2890 kilometers, and the investment reaches 1.906 billion yuan! On the morning of December 17, as a key enterprise of Hongdou Group, Gu Cui, chairman of Jiangsu General Scince Technology Co., Ltd. (short as GS), signed the largest industrial investment project since the establishment of the special zone - high performance tire project at the video working conference of "helping to build the Sihanoukville Port Special Economic Zone 2.0 upgrade" between Wuxi City and Sihanouk Province, Cambodia.

GS's tire project in Cambodia Sihanoukville Port Special Economic Zone (SPSEZ) aims for 5 million high-performance semi-steel radial tires and 900,000 all-steel radial tires. "After the formalities are completed, the plant will start construction immediately and put into operation at the end of next year, which can provide 1600 local jobs." Gu Cui, chairman of GS, said that the tire brand invested and produced this time is mainly "CELIMO", which is the main high-end tire brand of the company. After putting into operation, Celimo tires will be sold to the United States, Brazil, Southeast Asia and other countries and regions for supporting the use of commercial vehicles and household vehicles.

SPSEZ, Cambodia, is jointly developed and constructed by Hongdou Group, the controlling shareholder of GS, and Chinese and Cambodian enterprises. It is a landmark project of Jiangsu Province at the intersection of "One Belt, One Road", which has brought a real sense of achievement and happiness to the employees and people around the area. At present, more than 170 enterprises (institutions) from China, Europe, America, Southeast Asia and other countries and regions have achieved win-win development here, creating nearly 30,000 jobs and contributing more than 50% of the industrial output value to the economy of Sihanouk Province. SPSEZ is the only national economic and trade cooperation zone in China and Cambodia that has signed a bilateral government agreement. At the third "One Belt, One Road" construction symposium this year, Chinese President Xi Jinping mentioned in his speech that "SPSEZ has provided strong momentum for local development". 

In particular, from January to November this year, due to the epidemic prevention and control, the economy of the SPSEZ grew against the trend, with the total import and export amounting to USD 2.001 billion, an increase of 40.03% over the same period of the previous year, and the highest record of USD 200 million last month. It is reported that the "CELIMO" brand tire project will also enjoy the local income tax exemption period of nine years, zero tax rate for exports. The combination of these two benefits will provide a solid guarantee for the future development of GS's Cambodia plant. 

GS always upholds the vision of "build a national tire enterprise with international influence", actively responds to the national "One Belt, One Road" initiative, and adheres to the globalization layout and the development of the 5X strategic plan. Thailand factory as the company's first overseas production base, since the project has been put into operation has always maintained a good momentum of production and sales, is expected to achieve 6 million semi-steel radial tires and 1 million all-steel radial tires by the end of this year to reach full production. In December this year, the company also increased the capital of its Thai subsidiary by USD 78 million, which is used to further expand the scale of production capacity, optimize the storage and logistics system and carry out production and operation activities.

With the official signing of the Cambodia project, the company's three production bases in China, Thailand and Cambodia will complement each other and share resources. Taking this opportunity, Celimo Tires will also accelerate the process of internationalization of production, R & D and marketing.

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