Prometeon Tyre Group – Egypt has injected investments of about EGP 100 million since the beginning of 2019 to date, the company’s chief technical officer Ahmed Zawawy said.
Total investments of the tyre manufacturing company in the Egyptian market has reached $200 million (EGP 3.3 billion), Zawawy told Mubasher.
The licenced manufacturer of Pirelli branded tyres has controlled 35% of Egypt’s truck and bus tyre market, he revealed.
Prometeon Tyre Group’s plant in the most populous Arab nation spans over 300,000 square metres, including an unused area of about 100,000 square metres, and comprises of five manufacturing phases, producing 150 different kinds of tyres.
The company plans to launch a new product in the next month, Zawawy added.