Nissan Egypt has big investment plans: Nissan Egypt is planning to invest USD 55.9 mn in the Egyptian market until 2026, according to a cabinet statement that came out following a meeting between Prime Minister Moustafa Madbouly and company representatives. We have the rundown on where these funds will go.

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#1- A freezone company: The automotive player will invest some USD 2 mn to set up a freezone company in Alexandria Port to facilitate car and car parts exports, with implementation expected to begin in November 2024.

#2- A new locally-made model: The company plans to begin manufacturing a new car model locally, the statement said without disclosing which model. The company aims to produce 10k units for the local market and 7k units for export during the first year of production, with annual increases to come based on demand.

More to come? The company is also looking into producing more of its models locally, based on market needs.

DATA POINT- Nissan Egypt has exported over 15k locally manufactured Sunny car models, since August 2022, generating over USD 120 mn. Nissan aims to increase its exports more than 50%, the statement read.

#3- More renewables: Nissan Egypt is currently adding 1.8 MW of solar power capacity — set to come online in September — to its 2 MW solar power plant and could add another 2.2 MW to its capacity by the fiscal year ending in 2025, bringing its total capacity to 6 MW, Nissan Egypt Managing Director Mohamed Abdelsamad added.

#4- A new water treatment facility: Nissan Egypt is also planning to invest in a water treatment plant for agriculture, saving 28k cubic meters of water per annum.

ALSO ON THE AGENDA- A Nissan vocational school? The company is currently looking into a proposal put forward by Transport and Industry Minister Kamel El Wazir for Nissan to set up its own vocational school.

ICYMI- We’re getting serious about our local auto industry: The Madbouly government has taken a bunch of steps towards localizing the automotive industry. Most recently it was reported that it has plans to set up three factories for the production of car components at a cost of around USD 1.4 bn. It is also gearing up to carry out the Egyptian Automotive Industry Development Program and a bunch of automakers have already lined up.

KASRAWY GROUP ARE ALSO PLANNING TO EXPAND-

A new automotive factory incoming: Automotive player Kasrawy Group wants to set up a new car factory to produce a new car model, with plans to produce 23k units during the first five years of operation, according to a cabinet statement. The government will provide the company with land needed to set up the facility.

A whole lotta investments in the pipeline: The company plans to pump EGP 1.5 bn and USD 102 mn into a two-phase expansion plan of its manufacturing activities.

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