China’s Prometeon Tyre Manufacturing, a subsidiary of China National Tyre and Rubber Co., Ltd., plans to invest US$400 million to expand its operations in Egypt, producing 1.5 million additional tyres and upgrading its existing factory.
A meeting was recently held with Egypt’s Minister of Investment and Foreign Trade Hassan El-Khatib in Cairo to discuss the expansion plans. The delegation included senior executives from Prometeon and China National Tyre and Rubber, including Stefano Ziliani, CEO/Managing Director Prometeon Tyre Egypt.
During the meeting, El-Khatib commended the pace of Prometeon’s development efforts, saying the ministry “will spare no effort to meet the company’s requirements, in the context of preparing a conducive climate for investment and to protect the competition”. He also said Prometeon would receive continued backing through the China Unit at the General Authority for Investment and Free Zones to ensure the company has “all the necessary information and required data”.
Prometeon’s current factory produces 1.2 million tyres/year and the expansion will also introduce advanced tyre manufacturing technologies to be housed on a new 200,000 sq m plot in Al-Amriya. The company also plans to establish a private free zone to support the expansion and enable full exports.
For Prometeon, the investment aligns with its strategy to reinforce Egypt as a central platform for supplying markets across Africa, the Middle East and Europe. The company views the country’s manufacturing base and export access as key strengths as global demand patterns shift.
The talks signal the company’s intention to deepen its long-term commitment in Egypt, subject to final approvals and land allocation.