Egypt to start implementing two tyre plants with $900 investments
Chemical Industries Holding Company (CIHC), an affiliate to the public enterprise ministry,starts the executive steps to build two new tyre manufacturing plants with total investments of $900 million during June 2020, according to Emad el-Din Moustafa, its Chairman.
He told Amwal Al Ghad that the company is seeking to begin drafting the technical studies necessary to implement the first tyre plant in Al Amreya industrial zone on an area of 150,000 square metres.
Sokhna Tyre plant
Meanwhile, studies to build a second factory in Ain Sokhna have been completed. The Sokhna plant will be established on an area of 450,000 sqm in cooperation with the Arab Organization for Industrialization (AOI).
Moustafa added that the company aims to make a decision on the offers submited to accelerate the implementation of the tyre manufacturing project in late June, stressing that the two projects are an essential pillar for the local auto industry during the coming period.
