China’s Zenith Steel Group, a subsidiary of Zhongtian Group, has signed an agreement to establish a USD 300 mln tyre components manufacturing facility in the China-Egypt TEDA industrial zone in Sokhna, within the Suez Canal Economic Zone (SCZone).
The project will occupy approximately 320,000 square metres and will include production lines with an annual capacity of 120,000 tons of steel cord and 50,000 tons of bead wire used in tyre manufacturing.
According to SCZone Chairman Walid Gamal El-Din, around 30pct of the plant’s output will be exported to markets across the Middle East, Europe and the Americas, supporting Egypt’s strategy to strengthen its position as a regional manufacturing and export hub.
The project is expected to support industrial integration within the China-Egypt TEDA zone by supplying local tyre manufacturers, strengthening domestic supply chains, expanding export capacity and promoting the localization of advanced manufacturing technologies.