Egypt’s Prime Minister, Dr Mostafa Madbouly, met with representatives from China National Tire & Rubber (CNTR) on 13 January to discuss plans for a new passenger car tyre plant in the country. CNTR, the parent company of brands like Pirelli, Prometeon, and Aeolus, aims to expand its manufacturing footprint in Egypt, building on the success of Prometeon’s 30-year presence in Alexandria.
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China National Tire & Rubber (CNTR), the parent company of renowned brands like Pirelli, Prometeon, and Aeolus, is set to expand its operations in Egypt with a new passenger car tyre plant. The announcement follows a meeting between Egypt’s Prime Minister, Dr Mostafa Madbouly, and representatives from CNTR on 13 January. The discussions highlighted the strategic importance of Egypt as a manufacturing hub and CNTR’s long-term commitment to the region.
Prime Minister Madbouly expressed strong support for the project, recognising its potential to drive economic growth, create jobs, and reinforce Egypt’s position as a key player in the global tyre industry.
CNTR’s decision builds on the success of its subsidiary, Prometeon Tyre Group, which has operated a facility in Alexandria for three decades. The Alexandria plant has produced over 19 million tyres and has recently benefited from an €85 million investment to enhance innovation and sustainability. Prometeon also launched its first Prometeon-branded tyres, the Serie 02, at the facility in May 2024.
Prometeon Tyre Group was established in 2017 as a spin-off from Pirelli’s industrial tyre division and focuses on industrial tyres. The Alexandria plant has been a cornerstone of CNTR’s manufacturing presence in the region, and the new passenger car tyre facility will complement its operations by addressing rising demand in the Middle East and North Africa (MENA) market.
The new tyre plant is part of CNTR’s strategy to bolster its global manufacturing capabilities. The company oversees a diverse portfolio:
The Egyptian market offers unique opportunities, with its strategic location providing access to growing markets in Africa, the Middle East, and Europe.
Dr Madbouly’s meeting with CNTR representatives underscores the Egyptian government’s commitment to fostering foreign investment in strategic industries like tyre manufacturing. The collaboration reflects Egypt’s broader vision of economic diversification and sustainable development.
Prime Minister Madbouly noted:
“Egypt welcomes CNTR’s investment and looks forward to a partnership that strengthens our industrial capabilities and creates lasting economic value.”
The new plant is expected to leverage advanced manufacturing technologies, following CNTR’s emphasis on innovation and sustainability. By creating local employment opportunities and boosting tyre exports, the facility will play a crucial role in driving economic growth while supporting the global operations of CNTR.
Who did Prime Minister Madbouly meet with?
Dr Mostafa Madbouly met with representatives from CNTR on 13 January to discuss the company’s plans for a new passenger car tyre plant in Egypt.
What is the significance of the new tyre plant?
The facility will expand CNTR’s manufacturing footprint, complementing the Prometeon plant in Alexandria and catering to growing demand in the MENA region.
How does this benefit Egypt?
The project will create jobs, attract foreign investment, and strengthen Egypt’s position as a strategic hub for the global tyre industry.
What is Prometeon’s history in Egypt?
Prometeon Tyre Group has operated a plant in Alexandria for 30 years, producing over 19 million tyres and undergoing significant upgrades to enhance innovation and sustainability.
