[Screenshot image captured from Kolon Industries website]
Kolon Industries, a South Korean producer of chemicals and other materials, disclosed a 219 million US dollar investment plan Thursday to build a tire cord plant in Vietnam.
The company said in a regulatory filing that its plan to invest 260 billion won ($219 million) in the plant capable of producing 36,000 tons of polyester tire cord fabrics every year has been endorsed by a Vietnamese provincial government.
The Vietnam plant will be completed in the latter half of 2018. Kolon, which maintains business ties with global tire companies, opened a tire cord plant in China in 2004.
Aju News Lim Chang-won = cwlim34@ajunews.com
reporter
Park Sae-jin
swatchsjp@ajunews.com
