PHNOM PENH: The US$300-million tire factory located in the Sihanoukville Special Economic Zone (SSEZ) in Preah Sihanouk province has officially been inaugurated with a production capacity of about 1.3 million tires per year, generating jobs for some 1,100 local workers.

The inauguration ceremony was held on May 22 under the presidency of Prime Minister Samdech Akka Moha Sena Padei Techo Hun Sen and Chinese Ambassador to Cambodia H.E. Wang Wentian.

Invested by General Tyre Technology (Cambodia) Co., Ltd., the factory is equipped with modern technology in accordance with the industrial development policy of Cambodia, a high value-added industry.

Being the large factory in investment amount in the SSEZ, the plant's consumption of local natural rubber raw materials will boost Cambodia's natural rubber market, Samdech Techo Hun Sen said.

“Cambodia wants to attract industrial investments that use local raw materials such as rubber, and cashew nuts …, generate jobs for local people, and bring new modern technology to Cambodia, which is in line with the Cambodia Industrial Development Policy,” the Premier underlined.

Besides the primary market overseas, the factory would supply its output to the local market as the number of vehicles in Cambodia is increasing remarkably, he added.

The General Tyre Technology (Cambodia) Co., Ltd is the second tire factory in Cambodia while the first one is situated in Bavet City, Svay Rieng province. The third tire factory has recently broken ground in Kratie province.