{"id":82270,"date":"2024-11-11T00:00:00","date_gmt":"2024-11-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/11\/11\/egyptian-chinese-jv-to-set-up-usd-360-mn-tire-factory-in-the-sczone\/"},"modified":"2024-11-11T00:00:00","modified_gmt":"2024-11-11T00:00:00","slug":"egyptian-chinese-jv-to-set-up-usd-360-mn-tire-factory-in-the-sczone","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/11\/11\/egyptian-chinese-jv-to-set-up-usd-360-mn-tire-factory-in-the-sczone\/","title":{"rendered":"Egyptian-Chinese JV to set up USD 360 mn tire factory in the SCZone"},"content":{"rendered":"

<\/strong>Chinese <\/strong>firms eye tire factory in Egypt: <\/strong>An unnamed Chinese company is looking to set up a USD 360 mn tire factory in the Suez Canal Economic Zone (SCZone) in partnership with the state-owned Arab Organization for Industrialization (AOI), Asharq Business<\/a> reported last week, citing what it says are two informed sources.<\/p>\n

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

Who will do what?<\/strong> The Chinese company will own 52% stake of the JV and will be responsible for securing financing for the project, while AOI will provide the land for the factory and will own the remaining stake.<\/p>\n

The project is expected to begin production by the end of 2025<\/strong>, and will produce some 6 mn tires annually in its first phase, with plans to increase production to 12 mn tires in the future.<\/p>\n

This isn\u2019t the first time we heard about a Chinese company interested in local tire production: <\/strong>The Military Production Authority signed a contract with China\u2019s Poly Group in December 2019<\/a> to jointly establish a tire production facility with an annual capacity of 3 mn tires, but we haven\u2019t heard much on the project since then. We also heard that the China National Tire & Rubber Corporation was in talks with the military production and public enterprise ministers all the way back in 2018<\/a> to discuss setting up a tire factory, but likewise didn\u2019t hear anything more about the project later down the line.<\/p>\n

There\u2019s also other sizable tire factories in the pipeline:<\/strong> Rolling Plus Chemical Industries signed a contract last year to establish a EUR 1 bn tire factory<\/a> to produce some 7 mn tires. The government is also reportedly working with the private sector to revive and develop<\/a> state-owned tire manufacturer Trenco with estimated investments of USD 160 mn.<\/p>\n","protected":false},"excerpt":{"rendered":"

Production is expected to kick off by the end of 2025<\/p>\n","protected":false},"author":1,"featured_media":82271,"comment_status":"","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":[427],"tags":[49,357,21],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-82270","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-manufacturing","tag-egypt","tag-manufacturing","tag-zones","wpautop","entry"],"acf":{"mongo_id":"fe7b5ca0-a7fb-4f4d-b3c0-197d4040b6f9","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/836.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egyptian-Chinese JV to set up USD 360 mn tire factory in the SCZone","related_issue":[82262],"teaser":"Production is expected to kick off by the end of 2025","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.e1cccc03-c2bf-4b82-9b44-964edfa999d9.mp3"},"yoast_head":"\nEgyptian-Chinese JV to set up USD 360 mn tire factory in the SCZone - 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