Zombie car company El Nasr Automotive has revived negotiations with potential foreign partners to restart the defunct national car manufacturer’s operations, the Public Enterprises Ministry announced yesterday, Al Masry Al Youm reports. No further details were provided (as is pretty standard for news of this beast.) This would be the company’s second attempt at these negotiations, after they stalled earlier this year. El Nasr had entered talks with Chinese companies last year to secure USD 20 mn in funding the Nasser-era darling needed to get off life support.
More from Enterprise
Banks threaten to look beyond London as windfall tax talk grows
International lenders say more tax could tip the balance as…
Granite is about to test whether Egypt’s funds still need administrators
The asset manager and blockchain builder Tarmiiz have entered the…
Gulf stock exchanges are growing in importance, but they’re still a long way from becoming capital market hubs -Fitch
The diagnosis lands in a year when UAE and Saudi…
Egyptian-UK fintech Zeal raises USD 10 mn to back expansion plans
The London-based, Egyptian-founded fintech is preparing to activate its loyalty…