Pirelli Egypt has signed an innovative agreement worth 2 million euros with the Egyptian Social Fund for Development to start a new franchise of service centers that will be operated by young entrepreneurs to be coached by Pirelli and financed by the fund, according to Daily News Egypt .
In the first phase of the project, which will take place over the course of 2015 and 2016, Pirelli aims to open 35 new service centers for both commercial and passenger tires and create 200 direct jobs, according to the agreement.
In this unique collaboration between the private and public sectors, the multinational tire manufacturer aims to expand its service centers to Egypt's remote areas and to invest in young entrepreneurs by giving them the opportunity to be trained by an international company.
Pirelli Egypt CEO Younes Al-Alaoui said that the agreement reflected the company's philosophy when it came to implementing sustainable solutions for the problems that face the social and economic development of communities by providing education and training.
Secretary General of the Egyptian Social Fund for Development Soha Soliman said that she appreciated Pirelli's support in creating new job opportunities in Egypt as it is a company with a very strong structure and model in developing such retail projects.
Pirelli, the Italian-based company famous for sponsoring sport competitions, is the fifth largest tire manufacturer in the world.