Aeolus investing in $395 million Egypt tyre plant JV with Prometeon

Aeolus Tyre has announced plans to invest 2,680.55 million yuan (roughly $390 million; 340 million euros; £290 million) in a truck, agricultural and OTR tyre factory alongside the existing Prometeon manufacturing operation in Alexandria, Egypt. Construction is expected to take 20 months. The planned annual production capacity will be: 1.5 million truck and bus tyres, 30,000 engineering radial tyres, and 30,000 agricultural radial tyres