Automotive supplier Egyptian Kuwaiti Company for Castings will invest USD 30 mn in an automotive castings plant to manufacture brakes, Vice Chairman Ahmed Fikry Abdel Wahab told Al Mal. The factory will be operational by the end of the year and targets tripling the company's production to 3 mn disc brakes annually, Abdel Wahab said. Egyptian Kuwaiti Company for Castings (also referred to as Egyptian Kuwaiti Foundry) is a joint venture between the Egyptian German Automotive Company, the National Automotive Company, and Kuwait Foundry Company.

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