Egypt signs $1bn deal with China's Sailun Group to build tire factory

Egypt has signed an agreement with China’s Sailun Group to build an automotive tire factory in the Suez Canal Economic Zone, with total investments of $1bn (R17.53bn), a cabinet statement said on Wednesday.

An agreement has been signed with China’s Sailun Group to build an automotive tire factory in the Suez Canal Economic Zone, says Egypt's cabinet. Stock photo.
An agreement has been signed with China’s Sailun Group to build an automotive tire factory in the Suez Canal Economic Zone, says Egypt's cabinet. Stock photo. (123RF/ANEK SUWANNAPHOOM)

Egypt has signed an agreement with China’s Sailun Group to build an automotive tire factory in the Suez Canal Economic Zone, with total investments of $1bn (R17.53bn), a cabinet statement said on Wednesday.

The project’s first phase will be completed in 2026

Reuters


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