2023-09-20 08:38:00
Written by Hend Mukhtar – Photographed by Suleiman Al-Atefi Wednesday, September 20, 2023 11:38 AM
This morning, Dr. Mostafa Madbouly, Prime Minister, witnessed the signing ceremony of the contract to establish the “Rolling Plus” tire manufacturing factory, on an area of 400,000 square meters, with investments of one billion euros, to be implemented in 3 phases in the Sokhna Industrial Zone in the Suez Canal Economic Zone, in the presence of Walid Gamal El Din. Chairman of the General Authority for the Economic Zone.
The contract was signed by Engineer Abdel Nasser Rifai, Managing Director of the Main Development Company, and Engineer John Barakat, CEO of Rolling Plus Chemical Industries.
The project aims to establish a factory to produce tires for passenger cars, light and heavy transportation, with investments of one billion euros, and a production capacity of 7 million tires annually when the project phases are fully operational.
The project is being implemented in 3 production phases. The first phase will witness the implementation of the construction work of the factory, in addition to the production lines for automobile tires, with a capacity of 2.5 million tires annually. The investment cost for this phase amounts to 400 to 450 million euros, and its production targets the local market by 50%, and includes: The second phase is adding light transport tires, producing 3.5 million tires annually, providing 40% of them for the local market. Then the production capacity increases in the third phase to reach 7 million after adding the heavy transport tire industry.
In this context, the head of the Suez Canal Economic Zone explained that the authority’s strategy to localize a number of industrial and service sectors depends on industries that are complementary to each other, as the Rolling Plus tire manufacturing project is part of the general strategy for localizing the automobile industry and complementary industries to that, such as the manufacture of batteries, tires, and others. The project also aims to provide the needs of the local market, as part of the deliberate steps we are taking to attract projects that support reducing the import bill through the localization of the targeted industries. He also pointed out that the project provides 1,000 direct and indirect job opportunities, within the developer, “Main Development Company,” the investment arm. For the Economic Authority.
Walid Jamal Al-Din said: The importance of this project lies in the localization of the tire industry locally, especially after the presence of a Finnish technical partner, “Black Donuts,” to provide all technical consultations for the project’s designs from the beginning of its operation to manufacture tires and its stages.
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