Egypt to Produce Egyptian-Chinese Vehicles Within Two Years

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Researched by Industrial Info Resources (Sugar Land, Texas)--The Egyptian Ministry of Trade and Industry endeavors to attract investments in the automotive industry to achieve production of 1 million vehicles per year. Egypt's Industry Development Authority, headed by Amr Assal, held a meeting with Dongfang Group of China and Jack Automotive Group of Egypt. The meeting tackled the establishment of an Egyptian-Chinese project to produce microbuses, pickups and private vehicles using Japanese technology.

Mamdouh Mokhtar, chairman of the Jack Automotive Group said that Dongfang is the second major Chinese automotive company to produce 1 million vehicles a year. The company has 22 factories. He pointed out that the investments for the first stage reached $50 million and would provide 2,000 jobs. About 80% of the production will be exported to the countries of COMESA and North Africa, and the rest will be for the local Egyptian market. The annual production value will reach $250 million.

Magdy Yousief, the general manager of Jack Automotive Group, said that the second stage of production will start after two years. Dongfang will invest $100 million, providing 10,000 job opportunities.

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