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Saudi NTC to work with Samsung on $1.6 billion tire project

Saudi Arabian National Tire Co. (NTC) has awarded a contract to South Korea’s Samsung Engineering for the engineering, procurement, and construction of its planned $1.6 billion tire plant in Saudi Arabia.

NTC plans to build the factory in Jubail, an industrial city in the eastern part of the kingdom on the Persian Gulf. Production is expected to start by year-end 2020. The plant will be rated at 20 million units a year capacity, with a staff of about 4,000 employees.

NTC is an initiative of Fahad Bin Abdul-Rahman Bin Abdul-Aziz Al-Saud, a member of the Saudi royal family.

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