Deputy Prime Minister Hoang Trung Hai on April 19 cut the ribbon to inaugurate an all-steel radial truck tyre factory in the southern province of Binh Duong.

Covering 120,000 sq.m in the Nam Tan Uyen Industrial Park , the factory, the most modern of its kind in Vietnam, was built at a cost of 3.38 trillion VND (161 million USD).

Co-invested by the Vietnam National Chemical Group (Vinachem) and the Southern Rubber Industry Joint Stock Company (Casumina), the plant is capable of producing 1 million units per year.

Its aims at both domestic and foreign markets such as the Middle East, South Asia and Southeast Asia, the US, North America and Europe.

Speaking at the ceremony, Deputy PM Hai urged the investors to do more to ensure the factory will operate effectively./.