The Egyptian government has announced an ambitious plan to establish a comprehensive city dedicated to the manufacturing of car tires and related industries. This initiative is part of efforts to support national industry and enhance reliance on local products. The announcement was made during the twelfth meeting of the Ministerial Group for Industrial Development, chaired by Engineer Kamel El-Wazir, Deputy Prime Minister and Minister of Industry and Transport, with the attendance of key ministers and officials, alongside representatives from car manufacturing companies in Egypt.
Plans for Developing Local Industry
The meeting addressed the challenges facing local companies such as Gresh for Automotive Glass and Pyramids for Tires, discussing solutions to protect them from unfair trade practices. Engineer Kamel El-Wazir emphasized the necessity of establishing new factories for glass and tire manufacturing to meet local demand and accommodate exports when there is a surplus.
A New City for Tire Manufacturing
The Arab Organization for Industrialization unveiled its plan to create a specialized industrial city in Ain Sokhna, which will include three tire manufacturing plants and other production facilities such as a steel wire factory and a research and development center for rubber manufacturing technology. The first phase of the city is expected to commence next year with the construction of a tire factory.
Developing Other Projects
The meeting also discussed the Ministry of Public Business Sector's plans to develop the "Nesr" tire factory in Alexandria in collaboration with European companies, alongside establishing a new tire factory in Al-Amiriya in partnership with a Chinese company. Discussions also covered projects for manufacturing electric car batteries and glass used in solar panels.
Encouraging Green Industries
The importance of promoting the hydrogen economy and its derivatives was highlighted as part of Egypt's plan for transitioning to clean energy. The Minister stressed the need to provide the necessary land and infrastructure to support this industry and activate 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 necessary financing for priority sectors, including engineering, food, and pharmaceutical industries.
These plans represent a significant step towards realizing Egypt's vision of localizing vital industries and reducing dependence on imports, contributing to the enhancement of the national economy and the creation of new job opportunities.
