According to a statement, Minister of Investment and Foreign Trade Mohamed Farid met with executives from China’s High Mile Group to discuss plans to establish a $100 million industrial project to produce tire molds and industrial parts in Egypt.
The move is aimed at strengthening the country’s role as a regional hub for auto parts manufacturing.
The project includes a state-of-the-art tire mold production line built on an area of 100,000 square meters.
The facility is expected to create 1,000 to 2,000 jobs and will utilize Hemeli’s latest sustainable and environmentally friendly technology.
The project is targeted for formal establishment in the first half of 2026 (H1) and is designed to operate as a strategic manufacturing and export hub serving the Middle East, Europe and the Americas.
In addition to supporting exports, the factory will also serve the Egyptian market and strengthen the country’s position as a regional center for the auto parts industry.
Farid said the ministry is committed to providing full support to the project, including facilitating land allocation, streamlining procedures and maintaining continuous follow-up to ensure smooth implementation.
He noted that this comes amid ongoing massive industrial expansion in Egypt, which is expected to strengthen the integration of industrial value chains across sectors.
The minister added that the discussions also addressed opportunities to deepen local supply chains and expand industrial integration, particularly in wind energy and marine engineering.
These sectors are in line with Egypt’s national plan to increase the share of renewable energy in the overall energy mix.
Farid also emphasized the importance of investing in technical training and vocational qualifications to support the long-term success of projects.
He said the government is ready to work with relevant authorities to design specialized training programs that will help develop a skilled Egyptian workforce that can absorb advanced technologies and facilitate the transfer of industrial expertise.
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