{"id":82534,"date":"2024-11-20T00:00:00","date_gmt":"2024-11-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/11\/20\/saudi-arabias-blatco-is-lining-up-regional-tire-exports\/"},"modified":"2024-11-20T00:00:00","modified_gmt":"2024-11-20T00:00:00","slug":"saudi-arabias-blatco-is-lining-up-regional-tire-exports","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/11\/20\/saudi-arabias-blatco-is-lining-up-regional-tire-exports\/","title":{"rendered":"Saudi Arabia\u2019s Blatco is lining up regional tire exports"},"content":{"rendered":"

KSA lines up tire exports: <\/strong>Saudi Arabia\u2019s Black Arrow Tires (Blatco) and Thailand\u2019s Golden Star Rubber inked an MoU for the supply of rubber to support a USD 470 mn tire manufacturing plant lining up regional exports, according to an Alekhbariya<\/a> report and a post on X<\/a> from the Federation of Saudi Chambers (FSC). <\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

Details: <\/strong>The agreement looks to support plans to establish a USD 470 mn tire plant in Yanbu, which will churn out 4 mn tires for small cars per year in its initial phase. The facility will eventually ramp up to an annual production capacity of 6 mn units, including large tires for buses and trucks, according to Alekhbariya. Some 50% of production is earmarked for local markets, while the rest will be exported to neighboring countries, Blatco officials said. <\/p>\n

REMEMBER- Saudi is angling to become a global automotive industry hub:<\/strong> The Public Investment Fund (PIF) has been actively investing<\/a> in EV makers and the automotive value chain for some time as part of its diversification agenda, including investing multiple times in US-based luxury EV firm Lucid<\/a>. The fund also launched its own EV maker Ceer<\/a> in a JV with Taiwan\u2019s Foxconn<\/a>. Late last year, PIF established a USD 550 mn JV<\/a> with Italian tire manufacturer Pirelli to establish a Saudi plant with a production capacity of some 3.5 mn tires a year. <\/p>\n","protected":false},"excerpt":{"rendered":"

The plant in Yanbu will initially produce 4 mn tires \/ year<\/p>\n","protected":false},"author":1,"featured_media":82535,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[41],"tags":[263,31,32],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-82534","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trade","tag-pif","tag-saudi-arabia","tag-trade","wpautop","entry"],"acf":{"mongo_id":"18bdfe9b-1a13-48ae-a627-bf5ae2ddf5e0","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/1941.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Saudi Arabia\u2019s Blatco is lining up regional tire exports","related_issue":[82523],"teaser":"The plant in Yanbu will initially produce 4 mn tires \/ year","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.c859eb71-fc85-4ad5-ba10-28d03db59709.mp3"},"yoast_head":"\nSaudi Arabia\u2019s Blatco is lining up regional tire exports - 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