Egypt signs $300M deal with Chinese firm
Egypt has signed an agreement with the Chinese company Zenith to invest $300 million in the production of automotive tire components in the Suez Industrial Zone. The project includes establishing advanced production lines to produce 120,000 tons annually of steel wire and 50,000 tons of tire bead wires, creating approximately 1,000 direct jobs. The aim of the project is to export 30% of the output to global markets while strengthening Egypt's position as a regional hub for advanced engineering industries.
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