Longmarch unveils plans to set up tire plant in Egypt

Liaoning, China – Chinese tire maker Chaoyang Longmarch Tire is planning to construct its second overseas factory in Egypt, according to a roadshow event hosted by the Liaoning Equity Exchange Centre.

Operational since 2003, Longmarch currently operates a production base in Chaoyang, China, and a tire joint venture in Pakistan, where it produces all-steel truck and bus tires.

For the Egypt project, the company intends to invest a total of $190 million (€163 million) in two phases, the exchange centre said in a recent report.

In the first phase, Longmarch expects to invest $130 million in a facility to produce truck and bus as well as passenger car tires.

The plant will mainly supply the Egyptian market and neighbouring countries in the Middle East and Africa.

Longmarch said it selected Egypt for its second overseas plant due to its ‘strategic location close to Asia, Africa, Europe and the Mediterranean Sea.’