Egypt Signs $2bn Linglong Tire Complex Deal

China’s Linglong Group has signed a memorandum of understanding with Egypt’s Ministry of Industry to develop an integrated tire manufacturing complex with planned investments of about $2 billion, creating more than 5,000 jobs and supplying domestic and international markets.

The project will produce tires for passenger cars, buses and equipment, as well as conveyor belts, according to the Egyptian Cabinet. The complex will also include supporting industries and production inputs, including carbon black and steel cords…

Source: Arab News