Madinet Masr pens MoU with Ezz Elarab Automotive to boost sustainability
Updated 12/12/2024 12:30:00 PM
Arab Finance: Madinet Masr has signed a memorandum of understanding (MoU) with Ezz Elarab Automotive Group to improve operations at its headquarters and urban communities, according to a press release.
The two companies aim to incorporate 12 fully electric Volvo C40 Recharge and EX30 cars into Madinet Masr's operations at its new headquarters in Taj City.
Featuring evolved technology and sustainable materials, these cars will serve as eco-friendly transportation for clients and investors while touring the company’s urban communities.
The cars lower CO? emissions, as they come equipped with next-generation powertrains for extended driving ranges on a single charge and smart features that improve battery efficiency.
The partnership also reaffirms Madinet Masr’s commitment to building a more sustainable future within the framework of Egypt Vision 2030 and the United Nations’ Sustainable Development Goals (SDGs).
Abdallah Sallam, President and CEO of Madinet Masr, stated: “Our partnership with Volvo Group reinforces our commitment to transitioning toward a greener future by introducing innovative solutions that enhance community well-being and reduce carbon emissions.”
“This MoU marks a key step in transforming our operations into a model of sustainability and innovation, particularly in the real estate sector,” Sallam added.
On 10th December, the EGX-listed firm penned an agreement valued at EGP 900 million with El Hazek Construction.
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