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Saudi prince backing $1 billion tire plant in Saudi Arabia

National Tire Co., a company owned by a member of the Saudi royal family, is planning to build a $1 billion tire plant in Jubail, an industrial city in the eastern part of Saudi Arabia, according to Farid Dudin, general manager of Victoria Trading FZCO and head of the tire plant project.

NTC is an initiative of Fahad Bin Abdul-Rahman Bin Abdul-Aziz Al-Saud, a Saudi prince and former Saudi government official.

NTC said it had signed an agreement on the turnkey concept design with Finnish engineering consulting firm Black Donuts Engineering Inc., covering both the design of the factory itself and the design and development of the plant’s products. The project will create one of the “biggest and most modern individual tire factories in the world,” the company stated. The plant, to be built on a 247-acre site in Jubail, will be engineered to produce 16 million passenger tires and 6 million radial truck/bus tires a year.

Production is expected to start by the second half of 2020.

Sourced article found here.

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