Zhongce Rubber Plans $500 Million Tire Factory in Vietnam
Zhongce Rubber Vietnam received an investment registration certificate and signed a land sublease agreement with IDICO on November 12. The project has registered investment of more than 13 trillion Vietnamese dong and is planned in two phases, with annual tire capacity reaching 6.5 million units when fully operational.
On November 12, the Ho Chi Minh City Export Processing and Industrial Zones Authority and IDICO Corporation JSC (Tổng Công ty IDICO - CTCP) held a ceremony to present an investment registration certificate and sign a land sublease agreement with the project investor, Zhongce Rubber Vietnam Co., Ltd. (Công ty TNHH Zhongce Rubber Việt Nam). The company plans to build a tire and related products factory on 34.42 hectares in the expanded IDICO Phú Mỹ II Industrial Park. Registered investment exceeds 13 trillion Vietnamese dong (about $500 million).
The ceremony to present the investment registration certificate and sign the land sublease agreement for Zhongce Rubber Vietnam’s project.（VietVance）
The project will be built in two phases. The first phase is planned to produce 3 million semi-steel radial tires for passenger cars and 1 million all-steel radial tires for trucks and commercial vehicles annually. It is targeted to begin operations in July 2028, with total annual tire capacity of 4 million units.
The second phase is planned to add annual capacity of 2 million semi-steel radial tires, 500,000 all-steel radial tires and 150,000 metric tons of mixed rubber. It is expected to begin operations in July 2030, raising the factory’s designed annual tire capacity to 6.5 million units. The products will be primarily exported, while also supplying Vietnam and other Southeast Asian markets.
In July 2026, IDICO signed a memorandum of cooperation with Zhongce Rubber, when first-phase investment was expected to be $150 million. With the investment registration certificate issued and the land sublease agreement signed, registered investment for both phases has reached $500 million. The industrial park housing the factory is near the Cái Mép–Thị Vải deepwater port complex, facilitating imports of raw materials and exports of tires.
The Cái Mép–Thị Vải deepwater port complex is a gateway for international trade in southern Vietnam.（VietVance）
Source: VietVance
