Arab Finance: Long March Tyre (Egypt) Company Limited, a subsidiary of China's Chaoyang Longmarch Tyre Co., Ltd., has broken ground on its tyre manufacturing project within the TEDA-Egypt Zone, according to a statement.

To be implemented in two phases, the project will span 200,000 square meters, with total investments estimated at $190 million (EGP 9.5 billion), creating around 1,500 job opportunities.  

The first phase aims to produce 600,000 Truck and Bus Radial (TBR) tires annually, while the second phase will bring total annual production capacity to one million TBR tires, in addition to 4.5 million Passenger Car Radial (PCR) tyres.

Waleid Gamal El-Dien, the Suez Canal Economic Zone (SCZONE) Chairman, noted that the project is the first to be built on the new phase agreed upon with TEDA-Egypt in July 2025, covering a total area of ??2.8 million square meters.

Gamal El-Din also highlighted that the SCZONE currently includes more than 210 operating factories and 180 factories under construction.

He outlined the authority’s success in attracting investments worth $16 billion over the past four years, including more than $7 billion during the fiscal year (FY) 2025/2026.