ZC Rubber to explore $500 million tire manufacturing complex in Egypt

The Suez Canal Economic Zone and China's Zhongce Rubber Group Co., Ltd. (ZC Rubber) have signed a letter of intent to explore the establishment of an integrated tire manufacturing complex in the Sokhna Industrial Zone.

The proposed project involves an estimated investment of approximately $500 million and is expected to cover an initial area of 600,000 square meters. The complex will include tire production lines alongside related industrial, service, and logistical activities. The project is planned to be implemented in three stages to support production expansion and serve regional and international markets.

Egyptian Minister of Investment and Foreign Trade, Mohamed Farid, stated that the project aims to direct approximately 95% of its production toward exports. He noted that Egypt's strategic location, infrastructure, and logistics networks position the country to become a regional hub for the tire industry, facilitating access to markets in Africa, the Middle East, and Europe.