With a billion-dollar investment, a Chinese project to produce tires in the Suez Canal Economic Zone.

 

With a billion-dollar investment, a Chinese project to produce tires in the Suez Canal Economy Zone.

Written by: Ayman Bahr 

As part of the state's strategy to localize the automotive industry and related manufacturing chains, a contract was signed to establish a factory with the Chinese Silon Group to manufacture various types of automatic tires, with total investments amounting to approximately $1 billion.

The group is also one of the largest Chinese industrial entities in the automotive tire and vehicle manufacturing sector.

The project aims to cover the needs of the local market as well as export abroad.