Saturday May 25th, 2024
Download SceneNow app

USD 1 Billion Tyre Manufacturing Plant Will Be Built in Ain Sokhna

The project represents a significant step towards achieving Egypt's goals for automotive industry localisation.

Cairo Scene

USD 1 Billion Tyre Manufacturing Plant Will Be Built in Ain Sokhna

Egypt's Main Development Company for the Suez Canal Economic Zone (SCZONE) has signed a contract with Rolling Plus Chemical Industries to construct a tyre manufacturing plant in Ain Sokhna. The USD 1 billion investment will focus on producing tyres for passenger cars, light vehicles and heavy vehicles.

The Rolling Plus factory will cover an area of 400,000 square metres and is projected to manufacture seven million tyres annually, generating approximately 1,000 direct and indirect jobs.

The implementation of the project will occur in three phases. During the first phase, production lines for automotive tyres will be established, with a capacity of 2.5 million units per year. Half of this output will be supplied to the domestic market.

In the second phase, the facility will expand to include the manufacturing of light vehicle tyres, boosting production to 3.5 million tyres annually, of which 40 percent will be earmarked for local sales.

The third and final phase will witness the plant's production capacity reaching seven million tyres per year, and an additional production line will be added to manufacture tyres for heavy vehicles.