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$2B Investment in Car Tire Plant
Egypt and the Chinese Ling Long Group signed a memorandum of understanding to establish an integrated industrial complex for the production of various types of tires, including those for passenger cars, buses, equipment, and conveyor belts. The project aims to enhance local manufacturing, develop the value chain through investments totaling $2 billion, and create over 5,000 jobs. The complex will contribute to meeting domestic market demands and exporting to global markets, as well as supporting technology transfer and strengthening the supplier industries. This is part of Egypt’s strategy to deepen manufacturing and reduce reliance on imports in the automotive sector.
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