CAIRO, Egypt — China National Tire & Rubber Co. (CNRC) is exploring expanding its manufacturing footprint in Egypt, according to the Egyptian government.
One project being considered is a doubling of production capacity for heavy-duty truck tires at the Prometeon Tyre Group factory in El Amreya, Alexandria, rated currently at 1.1 million units annually.
Egyptian prime minister Mostafa Madbouly and CNRC Chairman Wang Jijun discussed the projects during a recent meeting in Cairo, the government said, without providing further details on the investment size, production capacity or construction timeline of the projects.
The ChemChina subsidiary also is evaluating the possibility of establishing a factory for passenger tires on a 1.9 million square foot plot adjacent to the current site near Alexandria, which does buiness as Alexandria Tire Co. S.A.E.
Milan-based Prometeon Tyre Group — the former commercial/industrial business sector of Pirelli & C. S.p.A. — is considered the 20th largest tire maker globally, with fiscal 2023 revenue of $1.48 billion.
With four tire plants in Brazil, Egypt and Turkey, Prometeon manufactures and commercializes Pirelli-branded truck, bus, farm and OTR tires under license.
Prometeon is one of three tire makers operating in Egypt. The others are Pyramids Tires and TRENCO.
In addition, Egypt's Concrete Plus construction enterprise disclosed plans in 2023 to invest up to $1 billion in a new tire factory in Egypt's Suez Canal Economic Zone.