(MENAFN) Saudi Arabian National Tire Co. (NTC) has signed a MoU with South Korea's Samsung Engineering for the engineering, procurement and construction of a USD1.6-billion tire plant in Saudi Arabia.
The scope of the project has been growing from the original USD1 billion announced in January, Farid Dudin, general manager of Victoria Trading FZCO and project leader told ERJ,
The 20-million-units-per-year project at a 1.4 million square-metre site in Jubail is anticipated to start operating first batches of tires by the end of 2020.
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