Prometeon to increase capacity in Egypt

Prometeon Tyre Group (PTG) plans to invest $400 million in the expansion and modernization of the tire plant in Amreya (Alexandria, Egypt), and the new project was discussed at a meeting between the country's Investment Minister Hassan El-Khatib and the company's leaders, as well as the Chinese holding company China National Tire & Rubber Co. (CNRC), which controls the tire manufacturer. 

Currently, PTG produces around 1.2 million tires annually in Amreya, and the new investments are expected to increase this figure by 1.5 million tires, as well as improve production efficiency through the implementation of new technologies. 

The Egyptian Ministry of Investment and Foreign Trade stated that the country's authorities intend to provide the company with all necessary support and information to accelerate the project's implementation, and El-Khatib emphasized that the "ministry will make every effort to meet the requirements of the companies", particularly in terms of simplifying the necessary procedures. 

PTG (formerly a division of Pirelli Industrial, spun off into a separate company) produces tires for trucks, buses, agricultural and other specialized equipment. 

Photo: Egyptian Ministry of Investment and Foreign Trade