According to reports, Sumitomo Rubber Industries Ltd. (Sumitomo Rubber Industries) plans to invest 40 billion yen (about 520 million U.S. dollars) to build a tire factory in Turkey.
Sumitomo Rubber plans to invest 520 million U.S. dollars in the construction of a tire factory in the province of Cankiri, about 90 miles from Ankara, the capital of Turkey.
The new plant will start construction next year and be completed in 2015. The tires produced by this plant will be exported to Europe and the Middle East.
Sumitomo Rubber has not yet provided the capacity of the new plant after its completion.
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