Cairo – Mubasher: The Egyptian Ministry of Public Enterprise Sector signed a memorandum of understanding (MoU) with the Arab Organization for Industrialization (AOI) to set up a new company which will launch two new tyre manufacturing plants.
The new company will be established in collaboration between Chemical Industries Holding Company (CIHC), affiliated to the public enterprise ministry, and AOI, according to a statement on Wednesday.
Two factories will be launched by the company for manufacturing all kinds of tyres, AOI’s chairman Abdel Monem El-Taras said.
One factory will be built in Suez Canal Economic Zone for manufacturing tyres for passenger cars, light-weight trucks, buses, and trucks and the other factory will be established in Ameria in Alexandria for manufacturing tyres for tractors and heavy equipment.
