Four Egyptian entities to build EPAZ complex for manufacturing vehicles

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Arab Finance: The Suez Canal Economic Zone (SCZONE), the Sovereign Fund of Egypt (TSFE), East Port Said Development Company, and Egyptian International Motors (EIM) have signed a memorandum of understanding (MoU) to build EPAZ, a complex for manufacturing vehicles, according to an official statement on June 14^th.

The complex will be established at the industrial zone in East Port Said with a production capacity of 75,000 vehicles a year as a first stage.

A feasibility study will be conducted for all the financial and technical terms of the project.

The MoU aims to reinforce the competitiveness of the industrial complex within the framework of the national strategy for manufacturing vehicles, as well as to market for the production of international cars, satisfy local and regional demand, and export to foreign markets.