TOYO Tire & Rubber will set up a joint venture company with Wuxi Meifeng Rubber Products Manufacturing to manufacture and distribute parts for railway vehicles (air springs and anti-vibration rubber).
As China’s transportation infrastructure grows, railroads are being expanded and route extensions planned at a rapid pace. In subways, which are the urban means of transport, new rail lines are being opened at a rate of 20 cities every year.
Furthermore, high-speed railways are being planned to connect major cities, with 16,000 km projected by 2020. In fact, the Beijing-Shanghai line commenced full service in June this year. Moreover, the Chinese government has announced an investment of RMB5 trillion towards the mid-term and long-term railway network plan. The logistics network with China’s neighbouring countries through the railway network is also being planned at a steady rate. (PRA)