Egypt, ZC Rubber plan $500mn tire complex
Egypt and ZC Rubber plan a $500 million tire manufacturing complex in the Sokhna Industrial Zone, with 95% of production targeted for export to global markets.
(L-R): Shen Jinrong, Mohamed Farid Saleh, Mustafa Sheikhoun, Ahmed Gamal
Egypt’s Ministry of Investment and Foreign Trade and the Suez Canal Economic Zone (SCZONE) have witnessed the signing of a letter of intent with China’s Zhongce Rubber Group (ZC Rubber) to explore the establishment of an integrated tire manufacturing complex in the Sokhna Industrial Zone.
The letter of intent was signed by SCZone Deputy Chairman for the Southern Zone, Captain Ahmed Gamal, and Shen Jinrong on behalf of ZC Rubber. While, the ceremony was attended by Mohamed Farid Saleh, Minister of Investment and Foreign Trade, and Mustafa Sheikhoun, Chairman of the General Authority of the Suez Canal Economic Zone.
The proposed project is expected to attract around $500 million in investment and will be developed on an initial area of approximately 600,000 square metres.
The complex is planned to be developed in three phases, featuring production lines for passenger car and truck tires, alongside supporting industrial, logistics and service activities.
Around 95% of the project’s output is expected to be exported, targeting regional and international markets, particularly in Africa, the Middle East and Europe.
The proposed investment is expected to strengthen Egypt’s manufacturing base while positioning the Sokhna Industrial Zone as a regional hub for tire production and exports. Earlier, SCZONE was part of the Egypt-Saudi Techno Bond project signing in Sokhna that will receive a $50 million investment and is expected to create 200 jobs and start operations in 2027.
