On August 8th, Gelunhui reported that Shandong Linglong Tyre (601966.SH) plans to expand its investment overseas (in Serbia) in order to further promote the company's global industrial layout, increase market share, advance high-quality development and enhance the overall competitiveness of the enterprise based on predictions of international market demand and domestic and foreign tire development trends.
The project is planned to be constructed on the existing land in the factory area, which has a total area of 130 hectares (equivalent to 1,950 mu). The main construction contents include civil engineering, equipment purchasing, and a 24MW photovoltaic power generation project, etc. The total investment of the project is 645.3803 million US dollars (equivalent to 4,620.6 million RMB).