Roadbot invests $614mn in a new tire plant in Abu Dhabi
Chinese tire manufacturer Roadbot is set to construct a new manufacturing plant in Abu Dhabi. Investing $614mn, the project is part of an agreement between Jiangsu Provincial Overseas Cooperation and Investment Company (Jocic) and Abu Dhabi Ports, and will be fully up and running by 2020.
Situated at the China-UAE Industrial Capacity Cooperation Demonstration Zone within the Khalifa Industrial Zone Abu Dhabi (Kizad) will produce up to three million passenger car radial tyres, as well as one million truck and bus radial tyres, Gulf Business has reported. Numbers will rise to 10mn by 2022.
"It is an important part of the Belt and Road Initiative and a crystallisation of multiculturalism, based on the principle of achieving shared growth through discussion and collaboration," commented Roadbot Chairwoman, Zhang Yingzi.
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"Roadbot will connect Abu Dhabi to global and regional automotive manufacturing demand; joining over 19 Chinese companies that have signed agreements to invest over $1 billion in the demonstration zone established within the KIZAD,” added Captain Mohamed Juma Al Shamisi, CEO of Abu Dhabi Ports.
“The Roadbot tire factory will make an important contribution to the UAE’s manufacturing base as part of our leadership’s long-standing strategy to diversify our economy. Today’s ground-breaking also demonstrates the increasingly close ties between the UAE and China, and reinforces the UAE’s role as a key partner in China’s Belt and Road initiative,” noted Dr Sultan Al Jaber, the UAE Minister of State and Chairman of Abu Dhabi Ports.
Spanning 275,000sq metres, the new facility will create over a thousand new jobs in the region, which will work to bolster the region’s automotive industry. At present, Toyota, Honda, Fiat and other strong brands operate in the area.