Pakistan’s Servis Group announced on Tuesday that it will increase Pakistan’s tyre exports by $300 million yearly in conjunction with China.
According to Omar Saeed, CEO of Servis Long March (SLM), the company will help Pakistan become self-sufficient in one of the most important industries.
It will also place Pakistan on the map for exporting engineered items around the world.
He said that once all three phases of the new project are completed, the Servis group – Pakistan’s largest producer of tyres and footwear – will improve Pakistan’s tyre exports by $300 million yearly, adding to the country’s economic growth.
On March 28, Servis Long March Tyres (Pvt) Ltd., a joint venture between China’s Chaoyang Longmarch Tyre Co. Ltd. and Pakistan’s Servis Group, opened Pakistan’s first all-steel radial truck and bus tyre plant.
The $300 million project would produce tyres under the SLM brand with the active participation of prominent Pakistani and Chinese partners. The new brand will compete with the greatest in the world in terms of quality.