Cairo – Mubasher: Egypt’s Holding Company for Chemical Industries, affiliated to the Ministry of Public Business Sector, signed a framework cooperation agreement with the National Organization for Military Production and Arab Organization for Industrialization (AOI).
The agreement comes as part of plans to consolidate efforts to achieve integration of the tyre manufacturing industry, the Minister of Public Business Sector, HIsham Tawfik, said in a statement on Tuesday.
Under the deal, a national industrial consortium will be established for manufacturing tyres for all types of automobiles, including buses, tractors, and heavy equipment, the Chairman of AIO, Abdel Moneim El-Terras, noted.
A new tyre plant will be built in the Suez Canal Economic Zone (SCZone) in Ain Sokhna over an area of 450,000 square metres, he revealed.
