Chinese tyre maker Prinx Chengshan is building a new plant in Thailand worth $25 million. The transaction involves purchase of 2,250 acres of land in Tambon Nong the Suea Chang, Amphur Nong Yai and Tambon Klong-Kew, Amphur Ban-Bung, Chonburi province by affiliate Prinx Thailand from WHA Eastern, Thailand’s industrial real estate developer. Prinx Thailand has also signed a water services agreement with a WHA Eastern subsidiary.

Reports said that the company chose Thailand as its new plant site to benefit from the low costs for raw materials and transportation, as well as the country’s favourable policies.