Linglong Advances $2bn Tire Manufacturing Complex in Egypt

Linglong Group has signed a memorandum of understanding (MoU) with Egypt’s Ministry of Industry to establish an integrated industrial complex for manufacturing tires and conveyor belts, involving around $2 billion in investment. The planned complex will manufacture passenger car, truck, and bus tires, as well as conveyor belts, and will include several supporting industries and production inputs, such as carbon black and steel cords. The project is expected to create more than 5,000 jobs and support the transfer of technology and expertise. Production will serve the Egyptian domestic market as well as target exports to European and US markets. The MoU comes after another Chinese major, ZC Rubber, inked a letter of intent with the Egyptian government to build a $500-million tire complex in the Ain Sokhna Industrial Zone within the Suez Canal Economic Zone. Other Chinese tire makers and suppliers have also recently invested in Egypt, including Sailun Group, Longmarch Group, and Zenith Group. These investments follow a recent round of investments by Chinese tire makers and suppliers in the North African country.