Latest news with #SailunGroup
Asharq Al-Awsat
4 days ago
- Automotive
- Asharq Al-Awsat
Egypt Signs $1 Bln Deal with China's Sailun Group for Tire Factory, Cabinet Says
Egypt has signed a deal with China's Sailun Group to build an automotive tire factory in the Suez Canal Economic Zone, with total investments of $1 billion, a cabinet statement said on Wednesday. The facility will take three years to complete and will eventually produce 10 million tires annually, the statement said. The first phase is due to be completed in 2026, it said. Egypt's Suez Canal Economic Zone (SCEZ) is a collection of six ports and four industrial areas alongside, or near the strategic waterway. The government has granted the area special legal and tax advantages to benefit from international shipping passing by. The zone's chairman said last year that it was spending heavily on infrastructure as it worked to attract investors. China has been looking to step up its economic activity in Egypt, including in projects involving ports, green hydrogen, industry and space.
Daily News Egypt
5 days ago
- Automotive
- Daily News Egypt
Egypt, China ink $1bn agreement for Sailun tire plant in SCZONE
Egypt's Prime Minister Mostafa Madbouly on Wednesday witnessed the signing of an agreement between China's Sailun Group and TEDA Egypt to establish a major tire manufacturing plant in the Suez Canal Economic Zone (SCZONE). The ceremony, held at the government headquarters in the New Administrative Capital, was attended by Kamel Al-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, and Walid Gamal El-Din, Chairperson of SCZONE. The contract was signed by Cao Hui, CEO of TEDA Egypt, and Shi Shaohong, Chairperson of Sailun Tire Group. The $1bn (around EGP 50bn) project will be developed in three phases over a 350,000 sqm site within the Sokhna Integrated Zone of SCZONE, managed by TEDA Egypt. Construction is scheduled to be completed within three years. The first phase—set for completion in 2026—will produce 3 million passenger car tires and 600,000 truck and bus tires annually. Once fully operational, the plant's total annual capacity is expected to exceed 10 million tires, serving both domestic demand and export markets. Madbouly said the project reflects Egypt's commitment to localising the automotive industry and its related supply chains, underscoring the role of public-private partnerships in achieving regional leadership within a short timeframe. He highlighted national infrastructure projects—such as roads, tunnels, and ports—that enhance SCZONE's readiness to attract foreign direct investment and connect production hubs to global markets. Gamal El-Din stressed that tire manufacturing is a key pillar of SCZONE's automotive localisation strategy. He noted that the Authority is working to establish fully integrated industrial clusters, in line with Egypt's national automotive manufacturing strategy launched from the Integrated East Port Said Zone. The SCZONE Chairperson also said the project follows a recent promotional tour to China, which included site visits and meetings with leading automotive and component manufacturers—particularly in electric vehicles and batteries. These engagements aimed to exchange knowledge on advanced technologies and assess investment requirements such as energy, utilities, land, and workforce needs. Sailun Group is among China's largest tire manufacturers, producing a wide range of products for different vehicle types. The company operates factories in China and Vietnam, with an annual capacity of over 26.6 million TBR (Truck and Bus Radial) tires, 88 million PCR (Passenger Car Radial) tires, and 310,000 tonnes of OTR (Off-The-Road) tires. Its sales and logistics network spans more than 180 countries. The planned SCZONE facility will serve as a central regional hub, supplying both the Egyptian market and neighbouring markets.
TimesLIVE
5 days ago
- Automotive
- TimesLIVE
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. The project's first phase will be completed in 2026 Reuters
Egypt Independent
6 days ago
- Automotive
- Egypt Independent
PM witnesses signing of contract to establish Chinese 'Sailun' tire factory in SC Zone
Prime Minister Mostafa Madbouly witnessed on Wednesday morning August 13,2025 the signing ceremony of a contract to establish a new tire manufacturing plant by Chinese Sailun Group. The event took place at the government headquarters in the New Administrative Capital, in the presence of Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel el-Wazir and Chairman of the General Authority for the Suez Canal Economic Zone (SCZone) Walid Gamal El Din. The high-level industrial project will be built over three phases within the TEDA Egypt industrial zone in Ain Sokhna, a fully integrated area under the SCZone. The project spans an area of 350,000 square meters, with total investments estimated at dlrs 1 billion (approximately EGP 50 billion) and will be implemented over three years. The first phase of the plant will produce 3 million passenger car tires and 600,000 truck and bus tires. It is scheduled for completion in 2026. Once fully operational, the plant's total production capacity will exceed 10 million tires annually, with a dual objective of meeting local market demand and supporting exports. The prime minister emphasized Egypt's ongoing commitment to its ambitious strategy to localize the automotive industry and its associated value chains. Madbouli praised the promotional efforts of the SCZone, which have successfully attracted investments in this vital sector, one of the government's top priorities for deepening local manufacturing. He also stressed the importance of sustained collaboration between the public and private sectors to establish Egypt as a regional leader in automotive manufacturing in a short timeframe. The prime minister further highlighted the role of national infrastructure projects, including roads, tunnels and port development, in enhancing SCZone's preparedness to attract foreign direct investment (FDI) and connect industrial zones with global markets. The zone offers attractive investment incentives and adopts policies that foster a competitive, investor-friendly environment. For his part, the SCZone's chairman said, the tire manufacturing project represents a cornerstone in the localization of the automotive industry – a key pillar of the SCZone's strategic vision. The SCZone is working to establish integrated industrial clusters for vehicle manufacturing and related supply chains, in line with the national strategy for automotive industry localization, launched from the East Port Said zone, Gamal El Din said. He added that the Authority's recent promotional tour in China included field visits and high-level meetings with leading electric vehicle and battery manufacturers. It also featured a roundtable with six of the largest Chinese auto parts and accessory producers. These engagements were designed to attract investment, understand the latest automotive technologies, and assess the infrastructure and workforce needs of similar industrial projects, said the SCZone's chairman.
Zawya
6 days ago
- Automotive
- Zawya
Egypt signs $1bln deal with China's Sailun group for tyre factory, cabinet says
CAIRO - Egypt has signed a deal with China's Sailun Group to build an automotive tyre factory in the Suez Canal Economic Zone, with total investments of $1 billion, a cabinet statement said on Wednesday. The facility will take three years to complete and will eventually produce 10 million tyres annually, the statement said. The first phase is due to be completed in 2026, it said. Egypt's Suez Canal Economic Zone (SCEZ)is a collection of six ports and four industrial areas alongside, or near the strategic waterway. The government has granted the area special legal and tax advantages to benefit from international shipping passing by. The zone's chairman said last year that it was spending heavily on infrastructure as it worked to attract investors. China has been looking to step up its economic activity in Egypt, including in projects involving ports, green hydrogen, industry and space. (Reporting by Momen Saeed Atalla, Writing by Ahmed Elimam, Editing by Michael Georgy and Aidan Lewis)
