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Zenith Chinese allocates 300M for Egypt project

Zenith Chinese allocates 300M for Egypt project

Egypt has signed an agreement with the Chinese "Zinet" Group to establish a project for manufacturing car tire components in the Sukhna Industrial Zone, with an investment of up to $300 million. The project will enable the production of 120,000 tons annually of steel cords and 50,000 tons of tire bead wires. Its goal is to support local manufacturing, reduce dependence on imports, create approximately 1,000 jobs, and help Egypt transition to a regional hub for exporting automotive industry components.

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