Prometeon Tyre Egypt, a subsidiary of China National Tire & Rubber Company, plans to invest $400mn to expand its local operations, according to company representatives who met Egypt’s Investment Minister Hassan El Khatib in Cairo.

The company said the new funding will support higher production capacity and modernise facilities at its existing plant in Alexandria, one of the group’s key manufacturing bases in the region. Prometeon added that the upgrade programme forms part of a wider strategy to strengthen its position in North Africa.

Officials noted that the expansion will focus on technology upgrades, efficiency improvements and enhanced production lines designed to meet rising domestic and export demand. Discussions also covered future localisation opportunities and potential supply-chain integration.

Minister El Khatib said the investment aligns with Egypt’s industrial development objectives and ongoing efforts to attract foreign capital into high-value manufacturing sectors. The ministry expects the expansion to generate additional employment and support the country’s export-oriented industrial base.