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The Holding Company for Chemical Industries: manufacturing 5 million tires and exporting to 14 countries

Engineer Osama Mahdi, Vice President of the Holding Company for Chemical Industries for Technical Affairs, revealed that the feasibility study that was prepared by the German company "Ronald Burger", one of the international consulting companies based in France, which has been assigned to prepare the marketing, financial and economic feasibility studies of the car tire manufacturing project Manufacturing 5 million car tires annually through the factory that will be set up in the Suez region in cooperation between the ministries of the business sector represented by the Holding Company for Chemical Industries and Military Production and the Arab Organization for Industrialization.

Osama Mahdi added to "The Seventh Day" that the study aims to export to 14 Arab, African and European countries, pointing out that 4 million different passenger car tires and one million transport car tires will be produced; To meet the needs of the domestic market and export.

He explained that the implementation of the project takes two years with investments amounting to about $ 950 million, and it can recover its investment costs within 5 years, according to the study, explaining that the next period will discuss ways to provide financing for the project and determine the share of each party participating in it.

It is noteworthy that the goal of the project is to provide tires to the local market, where tires are imported at about $ 556 million annually. It will also provide national products to global markets, to meet the needs of the local market and replace imports of tires in addition to exporting abroad and focusing on Africa while studying competitors in the industry.

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