In Egypt, a new Sailun tire plant will be built

Sailun Group Co., Ltd. is to build a major tire plant in Egypt. The company has provided detailed information about the project in documents submitted to the Shanghai Stock Exchange, confirming total investments of $291.48 million, which will make Sailun the first production facility on the African continent.

Zhang Xiaohun, president of Sailun Group, signed a project agreement on August 13 at a ceremony attended by Egyptian Prime Minister Mostafa Madbouly and other senior officials.