Arab Finance: Prime Minister Mostafa Madbouly announced a new $135 million partnership between Al-Mansour Automotive Group and China’s SAIC Motor to establish a car manufacturing plant in Egypt, as per a statement.
The project, set to produce MG5 sedans, will be located in New October City and aims to start production by 2026.
The factory will be built over 126,000 square meters, with an initial annual capacity of 50,000 cars, which could later double to 100,000.
The construction will take 18 months, with operations beginning in the third quarter (Q3) of 2026.