KARACHI: Ghandhara Tyre and Rubber Company Limited (GTR) has entered into a Memorandum of Understanding (MoU) with Shandong Huasheng Rubber Co., Ltd. (SHRC), a leading technology service provider in the global tyre industry, headquarter in China. The MoU was signed in an elaborate ceremony in Dubai.
The MoU outline the intent to explore the establishment of a Joint Venture (JV) in Pakistan for the manufacturing, marketing, sales, and supply of Truck Bus Radial (TBR) and Passenger Car Radial (PCR) tyres.
SHRC, based in Dongying, Shandong, China, has global production capacity of 30 million units for PCR and 9 million units for TBR, exporting to more than 100 countries. In 2023, the company’s business volume reached up to USD 1.5 billion.
Hussain Kuli Khan, CEO of GTR, highlighted that SHRC, a globally recognized leader in tyre manufacturing, operates a cutting-edge R&D centre and a high-performance Tyre Green Engineering Laboratory, facilitating advanced material testing and innovation. He further emphasized that the proposed joint venture will prioritize the export of TBR and PCR tyres.
Copyright Business Recorder, 2024
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