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Egypt has launched a project to build a car plant near Cairo, saying it is the first in a planned car production city.
Minister of Industry and Transport, Kamel El-Wazir laid the foundation stone for the plant which is owned by Mansour Automotive Group, in 6th of October City.
“The plant will produce 50,000 cars per year in the first phase…it is expected to achieve an annual production capacity of 100,000 vehicles, including both fuel-powered and electric models, within five years of operation, thereby contributing to Egypt’s industrial expansion and green transformation,” the minister said.
He said the project is in line with Egypt’s industrial development strategy which aims to establish a fully integrated automotive ecosystem encompassing component manufacturing, vehicle assembly, and the localisation of electric and hybrid car production, aligning with global sustainability trends.
“The plant will be the nucleus for establishing a city dedicated to automotive production and its feeder industries at this strategic location,” El-Wazir added.
Investment details weren't disclosed.
(Writing by N Saeed; Editing by Anoop Menon)
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