Egypt’s military adds new factory to industrial portfolio
Egypt’s military signed a deal with a Chinese company to establish a car tire factory, further tightening its grip over the country's industrial sectors.
CAIRO — Maj. Gen. Mohamed Said al-Assar, Egyptian minister of military production, recently announced the signing of a deal with the China POLY Group to build a factory to manufacture car tires in Egypt.
In a Dec. 14 statement, the ministry noted, “The factory aims to create millions of tires annually and open new industrial areas for the state,” stressing that the project is also geared toward decreasing imports, which reached $186 million in 2018.
The ministry further asserted, “[The deal] is a confirmation of the ministry’s working strategy, in cooperation with international companies, to localize and transfer the latest technologies in various fields to companies and units affiliated with the ministry to contribute to the implementation of national development and service projects in the state.” The state-run Al-Ahram reported that the factory will be the first to manufacture tires in Egypt.
Over the past few years, Egypt's armed forces have expanded their investments. In addition to controlling military industries, they have acquired economic concerns in an array of sectors, including in the medical, tourism, iron, steel and construction sectors.
