The first phase of the city is expected to commence With the construction of a tire factory within a year.
The Arab Organization for Industrialization plans to establish a city dedicated to the manufacturing of car tires and their associated industries in partnership with one of the world’s largest Chinese tire manufacturers. The project will be located in the free zone in Ain Sokhna.
The city will include three tire manufacturing plants, a factory for tire production equipment and service centers, a steel wire factory for tire production, a white carbon factory, and a research and development center for rubber and tire technology, according to a statement by the ministerial group for industrial development.
The first phase of the city is expected to commence With the construction of a tire factory within a year.
This came during the twelfth meeting of the Ministerial Group for Industrial Development which was headed by Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir.
During the group’s meeting, the Ministry of Public Business Sector presented a plan to develop the Nasr Tire Factory in Alexandria in collaboration with European companies, aiming to start production within two years.
Additionally, plans were discussed to establish a car tire factory in Al-Amreya in collaboration with a Chinese company, manufacture solar panel glass with an Emirati company, and produce batteries for the minibuses made by El Nasr Automotive.
The minister also directed the Maritime and Land Transport Holding Company to coordinate with El Nasr Automotive to supply luxury buses for passenger services at new city high-speed train stations.
The group also discussed mechanisms to encourage the production of green hydrogen and its derivatives, as well as the challenges facing its production in Egypt.
The minister added that the industrial companies have applied for funding under the 15% initiative to support the industrial sector, with total requested loans amounting to EGP 7.776 billion.
He emphasized the commitment of Egyptian banks to providing the necessary financing for production and industrial facilities in Egypt, rather than focusing solely on consumer projects.
He highlighted the upcoming initiative by the Central Bank of Egypt to establish a fund aimed at supporting producers across various fields, particularly the industrial sector.
