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SIHANOUKVILLE, Cambodia -- A Chinese-invested tire factory in Cambodia's Sihanoukville Special Economic Zone (SSEZ) officially launched its operation on Monday.
The 300-million-U.S.-dollar General Tire Technology (Cambodia) plant, located in Cambodia's coastal province of Preah Sihanouk, is a subsidiary of Chinese tire maker Jiangsu General Science Technology.
Cambodian Prime Minister Hun Sen and Chinese Ambassador to Cambodia Wang Wentian cut the ribbon to officially inaugurate the factory, attending a celebration to mark the 10th anniversary of China's Belt and Road Initiative (BRI) at the SSEZ.
Hun Sen said the tire factory is another fruit of cooperation between Cambodia and China under the BRI, adding that the plant will play an important role in processing local rubber into tires.
"The factory has brought about new capital, modern technologies, and tire manufacturing expertise to Cambodia," he said. "This factory will increase the value-added to the national economy and directly increase our farmers' income."
Gu Cui, chairman of Jiangsu General Science Technology, said the plant is capable of manufacturing 5 million semi-steel radial tires and 900,000 all-steel radial tires per year.
"Our products will be mainly exported to the United States, Europe, and Brazil among others," he said.