Ghandhara Tyre signs MoU with Chinese firm for joint venture

Ghandhara Tyre and Rubber Company Limited has signed a non-binding Memorandum of Understanding (MoU) with Shandong Huasheng Rubber Co., Ltd. (SHRC), a prominent Chinese technology provider in the tyre industry, according to a stock filing on Tuesday.  

The MoU marks the beginning of efforts to explore a joint venture to manufacture and export tyres from Pakistan.

The proposed joint venture will focus on the production, marketing, and supply of truck bus radial and passenger car radial tyres, targeting export markets. 

According to the company, the project is subject to successful feasibility studies, regulatory and internal approvals, and the signing of definitive agreements.