Chinese tyre company commits to building $550m factory in Egypt

• Upgrading of Alexandria site
• 1.5m tyres per year planned
• Creation of 1,600 jobs

China National Tire and Rubber Corporation (CNTR), a subsidiary of state-owned Sinochem Holdings, is to invest $550 million to build a new tyre manufacturing project in Egypt.

The facility will be located in the Amreya district of Alexandria, through Prometeon Tyre Egypt, a CNTR subsidiary, adjacent to an existing factory, which will be expanded and modernised, the Egyptian government said in a statement.

The investment decision was announced during a meeting between Egypt’s industry minister Khaled Hashem and CNTR chairman Wang Jianjun.

The new project will create a production capacity of 1.5 million tyres per year, with output expected to start in early 2028. It will create 1,600 new jobs and expand Egypt’s tyre export segment.

CNTR is a controlling shareholder of Milan-listed Pirelli and Shanghai-listed Aeolus Tire. It has 24 plants in 13 countries and a sales network in more than 160 countries.

In April, China’s Shandong Linglong Tyre One announced plans to invest nearly $2 billion in building a car and heavy truck tyre factory in Egypt for export to the Gulf and the US.

Chinese investors have announced plans to build an international logistics and trade city in Egypt at a cost of around $2 billion, similar to China’s Yiwu international trade city, known as Yiwu Market, the world’s largest wholesale market for small commodities.

Cairo signed a deal with China’s Sailun Group in August 2025 to build a $1 billion automotive tyre factory in the Suez Canal Economic Zone.

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