Long March Tyre (Egypt) Co., Ltd., a subsidiary of China's Chaoyang Longmarch Tyre Co., Ltd., has broken ground on its $190 million tyre manufacturing project in Egypt.

The project, spread over an area of approximately 200,000 square metres (sqm), is located in Sokhna Industrial Zone within the Suez Canal Economic Zone (SCZONE).

The first phase will have an annual production capacity of 600,000 Truck and Bus Radial (TBR) tyres, while the second phase will increase total annual production capacity to 1 million TBR tyres and 4.5 million Passenger Car Radial (PCR) tyres.

The project is expected to create approximately 1,500 direct job opportunities, while serving both the Egyptian market and export markets across the region, according to SCZONE's press statement.

(Writing by Eman Hamed; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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