Service Long March Tyres announces $120mn investment

Service Long March Tyres Limited (SLM), a Chinese-Pakistani joint venture, announced a $120 million120 investment in Pakistan, affirming the country’s industrial and economic potential.

This was shared by Service Long March Chairman Jin Yongsheng during a meeting with Federal Minister for Commerce Jam Kamal Khan, as per a statement.

Both sides discussed investment expansion, export growth, and tariff policy support for Pakistan’s tyre industry.

Announcing an additional investment of $120 million in Pakistan, the Chinese delegation shared that the company was on track to achieve exports of $70 million by June 2026 and was aiming to cross $100 million in exports in the following financial year.

The meeting was informed that Pakistan had made significant progress in global tyre markets, with exports to the United States and Brazil increasing rapidly.

“Kamal Khan acknowledged the concerns raised by the industry and reiterated the government’s commitment to supporting sectors that demonstrate strong performance and export potential.

He emphasized the importance of maintaining a balanced tariff policy that encourages local production while ensuring competitiveness,” the statement added.

The minister noted that the government was working towards diversifying Pakistan’s industrial base by promoting emerging industries with high growth potential.

The delegation also highlighted the importance of the Pakistan-China industrial partnership, describing it as a key driver behind the rapid growth of the tyre sector.

“The company’s manufacturing facility in Nooriabad was cited as a modern and efficient industrial unit employing around 2,000 workers and incorporating renewable energy solutions, making it one of the more sustainable production facilities in the region.”

Moreover, both sides agreed on the need to strengthen collaboration between the government and industry to support export-oriented growth and industrial expansion.

The statement said that investors expressed confidence in Pakistan’s economic outlook despite current global challenges and appreciated the government’s continued engagement with the business community.

“The meeting concluded with a shared resolve to promote policy stability, encourage investment, and position Pakistan as a competitive hub for manufacturing and exports in emerging sectors such as tyres.”

In January, the Chinese company had approved an $80 million investment to establish a Passenger Car Radial (PCR) tyre manufacturing facility in Nooriabad, Sindh.

Servis delegation meets PM Shehbaz

Meanwhile, the delegation met Prime Minister Shehbaz Sharif during which the PM was briefed on the new investment projects of Service Long March Tyres.

In the meeting, the PM said that they were working on a priority basis to further expand business-to-business relations between Pakistan and China.

“The Government of Pakistan believes in a sustainable, transparent, and facilitative investment system,” the premier said.

“Joint ventures like Service Long March are extremely essential for the economic development of both countries, new employment opportunities, technology sharing, and increasing exports.”

SLM is an all-steel radial truck and bus (TBR) Tyre manufacturing company in Pakistan, established through a JV between Servis Group and Chaoyang Long March of China.

Service Industries Limited and its subsidiary, Service Global Footwear Limited, hold 32.09% and 18.91% equity stakes in SLM, respectively.