(Yicai Global) Dec. 30 -- China's Jiangsu General Science Technology has started manufacturing tires at its first USD300 million overseas plant, one of Thailand's largest investment projects that Chinese manufacturers kicked off last year, forecasting great success.

General Science intends to make 1 million all-steel radial tires and 6 million semi-steel radial tires at the plant each year, expecting to earn CNY2.2 billion (USD314.5 million) more in revenue and CNY250 million (USD35.8 million) in net profit after production reaches full swing, the Shanghai Securities News reported.

The 510,000-square meter factory should enhance the Wuxi-based company's competitiveness abroad through resources provided by the world's biggest natural rubber producer and its preferential tax policies. The low-carbon products will be sold to the US, Europe, and Southeast Asian countries.

Founded in 2002, General Science counts Hodo Group as its largest shareholder. Besides its other tire plant in Wuxi, the company has over 10,000 stores in China. 

General Science's share price [SHA: 601500] rose 0.8 percent to CNY6.40 (US 92 cents) today. 

Editor: Emmi Laine