Egypt to Partner with Italian Company for Tire Production
The Ministry of Transport and Industry has revealed ongoing negotiations between the Ministry of Public Sector and an Italian company for the production of tires in Egypt.
This partnership would take place at one of the ministry's industrial sites, with an initial production phase targeting one million tires. According to an official statement, the total investment for the project would reach $500 million. The goal is to strengthen local manufacturing, reduce dependence on imports, and increase exports.
The project includes a strategy to revive the old "Trenco" factory, which produced under the "Nesr" brand before its shutdown in 2022. This revival could be achieved through private and public investments, enabling Egypt to regain its position in the tire market.
These initiatives aim to exceed 50% of local content in vehicles manufactured in Egypt, thereby increasing their competitiveness internationally.
Furthermore, a collaboration with the Arab Organization for Industrialization and the Ministry of Military Production has been considered to establish a solid industry in this field.
