Minister of Industry Khaled Hashim reaffirmed the government’s strong support for industrial expansion projects in Egypt, stressing the ministry’s commitment to addressing investors’ challenges, streamlining licensing procedures, and advancing local manufacturing, particularly in the automotive sector.
His remarks came during a meeting on Tuesday with Wang Jianjun, CEO of China’s Tire & Rubber Company, to discuss the company’s plans to expand its operations in the Egyptian market.
During the meeting, company representatives outlined plans to establish a new factory in Egypt dedicated to the production of heavy-duty truck tires, engineering and construction equipment tires, and agricultural tractor tires. The project, which will be implemented through Prometeon Tyre Egypt, entails investments worth $550 million.
The new facility will be constructed in Alexandria’s Amreya district on land adjacent to the company’s existing plant and will complement ongoing efforts to upgrade current production lines.
The project is expected to add 1.5 million tires to the company’s annual production capacity, with operations scheduled to begin in early 2028. It is also projected to create approximately 1,600 direct jobs, facilitate technology transfer, and boost Egypt’s tire exports.
Hashim underscored the Ministry of Industry’s role as a strategic partner in supporting the company’s expansion plans, pledging to coordinate with relevant authorities to overcome any obstacles and further simplify investment and licensing procedures.
For his part, Wang expressed confidence in Egypt’s economy and investment climate, praising the government’s efforts to facilitate business operations and support foreign investors.
He said the planned expansion builds on the company’s long-term investment strategy in Egypt, which began with the establishment of its existing factory in Alexandria. He added that the company intends to broaden its product portfolio in the coming years to include passenger car tires, capitalising on growing domestic demand and expanding export opportunities.
