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Sailun Tires: Planning to invest $285 million to build an expansion project in Egypt with an annual production of 7.05 million radial tires
Sailun Tire Announcement: The company plans to invest in and construct an expansion project in Egypt with an annual production capacity of 7.05 million radial tires. The total investment amount is $285 million, including $272 million in construction investment and $13.13 million in working capital for laying the foundation. The company will increase its capital in Sailun Hong Kong by no more than $285 million. Sailun Hong Kong will increase its capital in Sailun Singapore by no more than $285 million. Sailun Singapore will increase its capital in Sailun Europe by no more than $283 million. Sailun Europe and Sailun Singapore will each increase their capital in Shams El Sherouk by no more than $283 million and $2.85 million, respectively. The project is expected to achieve average annual operating revenue of $368 million and average annual net profit of $61.5 million.