Chemical Industries signs MoU with Malaysia’s Proton to develop El Nasr Automotive

The Chemical Industries Holding Company has signed an MoU with Malaysian automotive manufacturer Proton to examine cooperation over the development of El Nasr Automotive’s factory, sources told Al Mal. Proton expressed their interest in collaborating and agreed to conduct a feasibility study during a recent visit. El Nasr recently signed an MoU with Nissan to produce 100k cars a year in Egypt, following years of on-and-off talks with foreign companies to resurrect the Nasser-era car manufacturer.