A tire and plastic recycling company from China has formally expressed interest in Chatham-Kent and is looking to set up shop there.

Niutech Environment Technology has signed a memorandum of understanding with Chatham-Kent officials to invest $15-million into a Canadian manufacturing base and research and development centre.

This would be Niutech's first venture into the North American market and would bring 50 jobs to Chatham-Kent.

Mayor Randy Hope says while the MOU is not binding, but it is a good start.

“It's not just a matter of come here set your business up because there is a whole lot of education that is required because it is foreign to them,” says Hope. “It's no different than you or I going to their country and setting up a factory. We would be less knowledgeable, we need to gain more knowledge in order to make the fruits of the investment pay off."