Al-Muwakaba for Industrial Development & Oversees Commerce (Holding), a member of Al-Amoudi Group of Companies, has nnounced plans to set up a tyre factory in Yanbu Industrial City, a report said.

The Advanced Tire Factory, considered to be the first plant of its kind in the kingdom, will be built at a cost of SR900 million ($240 million), the report in Arab News said.

aid he was proud of this great project. The new project is in line with the guidance of the government of Custodian of the Two Holy Mosques King Abdullah in ensuring the diversity of industries in Saudi Arabia and the interest in supporting the national economy.

The project will provide 600 employment opportunities, Mohammed Hussein Al-Amoudi, chairman of the board and the main partner for both Al-Muwakaba and Advanced Tire Factory, was quoted as saying by the report.

The plant will manufacture 1.8 million tubeless pneumatic tyres for passenger cars and commercial vehicles per year.

The contract to design, engineer, supply and plan the building has been awarded to one of the major international companies specialized in the manufacture of tyres CAMCE-Sinomach. The technology for the plant will be provided by BCT that will be supervised by a specialized German consulting firm, Technical Tire Consulting Gmbh (TTC), the report said.