Sailun Group plans billion-dollar project in Egypt

The Sailun Group, already one of the fastest-growing tire manufacturers , is apparently planning to build a tire factory in Egypt. According to several local media reports, the Chinese manufacturer intends to invest a total of approximately one billion US dollars (859 million euros) in the plant in the Sokhna Integrated Zone, which is part of the Suez Canal Special Economic Zone. Xie Xiaohong, President of the Sailun Group, has now signed an agreement with representatives of the North African country in the presence of Egyptian Prime Minister Dr. Mostafa Madbouly.