{"id":661633,"date":"2025-03-03T00:00:00","date_gmt":"2025-03-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/03\/organi-group-acquires-50-of-rolling-plus-to-advance-eur-1-bn-tire-factory-project\/"},"modified":"2025-03-03T00:00:00","modified_gmt":"2025-03-03T00:00:00","slug":"organi-group-acquires-50-of-rolling-plus-to-advance-eur-1-bn-tire-factory-project","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/03\/organi-group-acquires-50-of-rolling-plus-to-advance-eur-1-bn-tire-factory-project\/","title":{"rendered":"Organi Group acquires 50% of Rolling Plus to advance EUR 1 bn tire factory project"},"content":{"rendered":"

Organi G<\/strong>roup wants to restart Rolling Plus\u2019 tire factory project: <\/strong>Organi Group acquired 50% of Rolling Plus Chemical Industries to revive its EUR 1 bn tire factory project<\/a> in the Suez Canal Economic Zone (SCZone) in partnership with Concrete Plus \u2014 which previously held a 70% stake in the company \u2014 an unnamed official told Asharq Business<\/a>.<\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

The why: <\/strong>Rolling Plus \u2014 a joint project between Concrete Plus and Gulf investors \u2014 signed a contract in September 2023 to establish a EUR 1 bn tire factory in the Ain Sokhna Industrial Zone to produce some 7 mn tires annually. Limited progress on implementation in the years since prompted the company to reach an agreement with Organi Group earlier this year to contribute half of Rolling Plus\u2019 capital, according to the source.<\/p>\n

The details:<\/strong> The project is expected to be rolled out in three phases, beginning with a EUR 400-450 mn initial investment that will see the factory produce 3 mn tires annually. The second phase is expected to expand production, while the third will push output to 7 mn, adding heavy-duty tires. Half of the factory\u2019s production has been earmarked for export.<\/p>\n

REMEMBER- <\/strong>Organi Group plans to invest USD 1 bn<\/a> in the automotive and tourism sectors over the coming five years.<\/p>\n

Not the only local tire project <\/strong>in the cards: <\/strong>An unnamed Chinese company is reportedly looking to set up a USD 360 mn tire factory<\/a> in the SCZone in partnership with the state-owned Arab Organization for Industrialization. Meanwhile, the government\u2019s attempt to revive and develop<\/a> state-owned tire manufacturer Trenco seems to be bearing fruit with an agreement to develop Trenco\u2019s Alexandria-based factory<\/a> with unnamed European companies and an agreement to establish a new Trenco tire factory with a Chinese company in Alexandria\u2019s Amreya.<\/p>\n

** Read more about our fledgling domestic tire industry <\/strong>\u2014 and the challenges it\u2019s facing \u2014 in this Inside Industry two-parter we published in 2023 (Part I<\/a> | Part II<\/a>).<\/p>\n

MORE PROJECTS COMING TO QANTARA WEST- <\/p>\n

Two text<\/strong>ile projects worth USD 28 mn are in the works:<\/strong> The Qantara West Industrial Zone will welcome two new textile projects with combined investments of USD 28 mn following agreements with the Suez Canal Economic Zone (SCZone), according to a statement<\/a>. The new projects are set to export all of their output and generate a total of 800 jobs. <\/p>\n

The details:<\/strong>China\u2019s Changzhou Kingcason Printing & Dyeing will set up a USD 24.5 mn yarn manufacturing, dyeing, and printing facility that\u2019s set to provide some 500 jobs. Meanwhile, Shanghai Honour<\/a> and its UAE-based subsidiary Home Hub Textile will establish a USD 3.5 mn home textiles project, generating 300 jobs.<\/p>\n

Big plans for Qantara West:<\/strong> With the latest two projects included, the SCZone has finalized 14 contracts in the Qantara West Industrial Zone, attracting USD 542.3 mn in investments within a 20-month period, according to the statement. <\/p>\n","protected":false},"excerpt":{"rendered":"

The project\u2019s first phase will draw a EUR 400-450 mn investment, targeting an annual output of 3 mn tires<\/p>\n","protected":false},"author":1,"featured_media":661634,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7255],"tags":[144,72,131,8302],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-661633","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-manufacturing","tag-automotive","tag-enterpriseam","tag-manufacturing","tag-organi-group","wpautop","entry"],"acf":{"mongo_id":"299331f7-5287-4117-8b6a-7de67e96a963","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/762.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Organi Group acquires 50% of Rolling Plus to advance EUR 1 bn tire factory project","related_issue":[661625],"teaser":"The project\u2019s first phase will draw a EUR 400-450 mn investment, targeting an annual output of 3 mn tires","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/3\/.35872b85-03b6-41e6-aa62-0fe19d80da4f.mp3"},"yoast_head":"\nOrgani Group acquires 50% of Rolling Plus to advance EUR 1 bn tire factory project - 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We have another busy issue for you today, with all the latest on the revival of a planned EUR 1 bn tire factory, the end of the Skype era, and a deep dive into Elsewedy Cables.THE BIG STORY\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/3\/87.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":662122,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/11\/al-organi-group-subsidiary-snaps-up-26-of-ataqa-for-egp-1-9-bn\/","url_meta":{"origin":661633,"position":1},"title":"Al Organi Group subsidiary snaps up 26% of Ataqa for EGP 1.9 bn","author":"enterpriseam admin","date":"11 March 2025","format":false,"excerpt":"The acquisition, subject to regulatory approvals and due diligence, values Ataqa at EGP 7.24 bn.","rel":"","context":"In 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