The Egyptian government has announced an ambitious plan to establish a comprehensive city for the manufacturing of car tires and related industries, as part of its efforts to support national industry and enhance reliance on local products. This announcement was made during the twelfth meeting of the industrial development ministerial group, chaired by Engineer Kamel El-Wazir, Deputy Prime Minister and Minister of Industry and Transport, and attended by prominent ministers, officials, and representatives from automotive manufacturing companies in Egypt.
Plans for Local Industry Development
The meeting reviewed the challenges facing local companies such as Gresh for Automotive Glass and Pyramids for Tires, discussing solutions to protect them from unfair trade practices. Minister Kamel El-Wazir emphasized the need to establish new factories for the production of glass and tires to meet local demand and export surplus production.
New City for Tire Manufacturing
The Arab Organization for Industrialization revealed its plan to create an industrial city in Ain Sokhna, featuring three tire manufacturing plants and additional production facilities, including a steel wire factory and a research and development center for rubber technology. Work on the first phase of the city, which involves establishing a tire factory, is expected to commence next year.
Development of Other Projects
The meeting discussed the plans of the Public Business Sector Ministry to develop the "Nesr" tire factory in Alexandria in collaboration with European companies, along with establishing a new tire factory in Ameriya in partnership with a Chinese company. Additionally, discussions included projects for manufacturing electric vehicle batteries and glass used in solar panels.
Encouraging Green Industries
The importance of promoting the hydrogen industry and its derivatives was highlighted as part of Egypt's plan for transitioning to clean energy. The minister stressed the significance of providing land and the necessary infrastructure to support this industry, as well as activating the role of the Energy Planning Unit under the Supreme Energy Council.
Financing and Supporting Producers
The minister emphasized the importance of Egyptian banks supporting the industrial sector, referring to the Central Bank's initiative to establish a fund to support producers and provide the necessary financing for the development of priority sectors, including engineering, food, and pharmaceutical industries.
These plans represent a significant step towards realizing Egypt's vision for localizing vital industries and reducing reliance on imports, contributing to strengthening the national economy and creating new job opportunities.
