Gandhara Tire and Rubber Co., Ltd. has signed a non-binding memorandum of understanding with Shandong Huashing Rubber Co., Ltd. (SHRC), a prominent Chinese technology provider in the tire industry, according to a stock filing on Tuesday.
The MoU marks the beginning of efforts to explore a joint venture to manufacture and export tires from Pakistan.
The proposed joint venture will focus on the production, marketing and supply of radial tires for bus trucks and passenger car tyres, targeting export markets.
According to the company, the project is subject to successful feasibility studies, regulatory and internal approvals, and the signing of final agreements.