Egypt's Suez Canal Economic Zone (SCZONE) signed a contract on Wednesday with Rolling Plus Chemical Industries to establish a tyre manufacturing plant in Ain Sokhna. The Plant has investments worth of $one billion and is focused on producing tyres for passenger cars, as well as light and heavy vehicles. The factory will span over an area of 400,000 square metres and is set to manufacture seven million tyres a year. It will also generate around 1,000 direct and indirect jobs. The project will be implemented over three phases, with the first being establishing the production lines for automotive tyres, with a capacity of 2.5 million units annually. 50 percent of the factory's output will be supplied to the domestic market. The second phase will include the manufacturing of light vehicle tyres, with a production of 3.5 million tyres annually. 40 percent of theses will be offered for local sales. The third will include the plant's production capacity reaching seven million tyres per year. There will also be an additional production line to manufacture tyres for heavy vehicles.
