Shandong Haohua Tire Co Ltd planned to develop Colombo Radial Tire Factory Project, in Colombo, Western, Sri Lanka. The project was located on the southeast coast of Colombo. The first phase aimed to produce 2000 high performance radial tires, including 3 million truck & bus tires and 17 million high-performance passenger car tires. The construction phase was 18 months. The project would improve local economy and respond to Belt and Road Initiative.