Egypt to establish $1.4B strategic auto factories in SCZone

Updated 7/29/2024 7:57:00 AM
Egypt to establish $1.4B strategic auto factories in SCZone

Arab Finance: The Egyptian government is planning to set up three strategic factories for locally manufacturing car components and raw materials, Al Mal News reported, citing an official document.

The factories are slated to be established in the Suez Canal Economic Zone (SCZone) at an estimated cost of up to $1.4 billion.

The factories aim to manufacture the raw materials and components needed for the localization of the automotive industry in Egypt.

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