China's Himile plans $100M tire mold factory in Egypt

Updated 2/23/2026 1:40:00 PM

Arab Finance: Minister of Investment and Foreign Trade Mohamed Farid met with senior executives from China’s Himile Group to discuss plans to establish a $100 million industrial project in Egypt to produce tire molds and industrial components, as per a statement.

The move aims to strengthen the country’s role as a regional hub for automotive component manufacturing.

The project will include a state-of-the-art tire mold production line built on a 100,000-square-meter site.

The facility is expected to create between 1,000 and 2,000 jobs and will rely on Hemeli’s latest sustainable and environmentally friendly technologies.

The project is targeted for official establishment in the first half (H1) of 2026 and is designed to operate as a strategic manufacturing and export hub serving the Middle East, Europe, and the Americas.

In addition to supporting exports, the factory will also cater to the Egyptian market, reinforcing the country’s position as a regional center for automotive component industries.

Farid said the ministry is committed to providing full support to the project, including facilitating land allocation, streamlining procedures, and maintaining continuous follow-up to ensure smooth implementation.

He noted that this comes amid major industrial expansions underway in Egypt, which are expected to enhance the integration of industrial value chains across sectors.

The minister added that discussions also covered opportunities to deepen local supply chains and expand industrial integration, particularly in wind energy and marine engineering.

These sectors align with Egypt’s national plan to increase the share of renewable energy in its overall energy mix.

Farid also stressed the importance of investing in technical training and vocational qualifications to support the project’s long-term success.

He said the government is ready to coordinate with relevant authorities to design specialized training programs that would help develop a skilled Egyptian workforce capable of absorbing advanced technologies and facilitating the transfer of industrial expertise.