7.776 Billion! Tire Factory Project Approval North Africa
On September 20th, the Egyptian government announced the official signing of a contract with Rolling Plus Chemical Industry Company.
The company will invest 1 billion euros (approximately RMB 7.776 billion) to establish a tire factory in the local area.
This move aims to develop the automotive strategy of North African countries and make the country a regional manufacturing center. To achieve this goal, the location of the new tire factory is set in the Suez Canal Economic Zone.
The factory covers an area of approximately 400000 square meters and will be constructed in three phases.
Among them, the first phase of the construction of a passenger tire production line has an annual production capacity of 2.5 million tires.
The second phase will build a commercial tire production line with an annual production capacity of 3.5 million tires, with 40% of the production capacity used for domestic sales.
The final phase of the project will increase the production line of truck tires, with an overall annual production capacity of 7 million units.
Black Donuts, a Finnish tire consulting company, served as the technical consultant for this project. The company is responsible for consulting all technical aspects from project design to tire manufacturing processes.
It is understood that Rolling Plus Chemical Industry Company has shareholders in Egypt, Saudi Arabia, and Cyprus.
