Changhua, Central Taiwan, Nov. 25 (CNA) The Changhua county government has signed a memorandum of understanding (MOU) with Cheng Shin Rubber Co., a major local tire maker, under which the company will invest NT$12 billion in the development of a zone in the county's Changnan Technology Park, a county official said Wednesday. Development is slated to begin next March and the company plans to start constructing a plant in June, with production planned to start in 2011, according to the official.
To speed up development of the zone, which covers an area of 98.87 hectares, Changhua Magistrate Cho Po-yuan instructed the county government to simplify the procedures for land procurement in the park zone to meet the needs of companies interested in investment in the zone, the official said.
Speaking at a signing ceremony for the MOU, Cheng Shin General Manager Chen Rong-hua explained the investment decision by noting that the company had been preparing to establish a new plant for more than one year, but had failed to find suitable land until it found that the base of the zone is just 1.5 km from the company's branch plant in Hsichou township.
The company distributes its tires in more than 170 countries around the world and is a leading manufacturer of tires for bicycles, motorcycles and beach-buggies in the world.
An area of approximately 41 hectares will be needed for the company's new plant project and 2,500 jobs are expected to be created once it begins operations, according to Chen.
(By Y.L. Kao)
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