Wanli Tire to build manufacturing plant in Selangor

Image from Ng Sze Han Facebook page Chinese tyre manufacturer Wanli Tire plans to construct a tyre manufacturing plant in Selangor, according to Selangor investment, trade and mobility exco Ng Sze Han . The planned tyre manufacturing plant in the state will be in Hulu Selangor, and this will be the brand’s second overseas plant after its manufacturing site in Cambodia. The investment by Wanli Tire is estimated at around RM1.37 billion, and the Hulu Selangor plant is planned for an annual production capacity of 6.2 million tyres. Investment in the Wanli Tire plant planned for Hulu Selangor is expected to create 1,350 local jobs for production line positions as well as high-value roles for engineers, quality specialists and managers, according to Ng. According to New Straits Times citing a Bursa Malaysia filing, Wanli Tire will enter the automotive tyre manufacturing business in Malaysia through its business unit, Hong Kong-based Trusmax Investment, which has entered into a joint venture agreement with Alam Baiduri, a wholly-owned unit of Berjaya Property. Image from Ng Sze Han Facebook page The agreement is to form a joint venture company to undertake the research, development, design, manufacture and sale of automotive tyres, related spare parts and components, as well as to provide aftersales services in Malaysia, reported NST . “The total funding required by JVC for setting up the automotive tyre manufacturing plant is estimated at about RM1.30 billion. Of this, RM813.35 million will be funded through equity contributions by Alam Baiduri and Trusmax, while the remaining RM491.45 million will be financed through borrowings,” the report wrote. The planned investment by Wanli Tire comes after Prinx Chengshan Tire , also from China, which announced last November its plan to invest RM2.6 billion over 15 years to build a tyre manufacturing plant Kedah Rubber City (KRC), Kedah, the first phase of which is expected to deliver its first fruits this year. At the time, Kedah Industry and Investment Committee chairman Dr Haim Hilman Abdullah said the 102.63-acre Prinx facility is expected to start exporting its first batch of products within a year, creating 1,056 high-value jobs in engineering, R&D and administration. Looking to sell your car? Sell it with Carro .