Kayan Egypt invests EGP 15 mn in logistics zone, says assembling Seats depends on Automotive directive

Kayan Egypt is investing EGP 15 mn in a logistics service zone in Alexandria, Al Mal reports. CEO Karim El Naggar says the zone will be used to hold imported cars and also export car part and vehicles to markets including Libya and Sudan. El Naggar expects the zone to be ready by 1Q2018 and said plans to assemble Seat cars locally depend on the development of the automotive directive. Overall, El Naggar projects that 80k cars will be sold domestically this year, 60% of which are imported and 40% assembled locally. He expects the sales volume to rise to 100k cars in 2018.