Egypt Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridor 
Logistics (MENA) 
Climate (MENA) 
Share
Read Full Issue 
AUTOMOTIVE-
Local private sector automaker MCV and Swedish automotive giant Volvo opened a new EGP 3 bn assembly line for electric buses in Sharqia with an annual production capacity of 1.2k vehicles, according to an Industry Ministry statement. All vehicles rolling off the assembly line will be exported to Europe.
(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)
Localization is the name of the game, with Industry Minister Kamel El Wazir stating that work is underway to steadily increase the amount of local components used in the assembly line and other auto assembly projects. The initial agreement for the project in 2023 stipulated that the buses will be made with at least 50% local components. The project will create 2k jobs.
MANUFACTURING-
Power generator manufacturer Customized Power Technology Group is planning to invest EGP 300 mn in a new factory in Suez, Chief Operating Officer Anwar Gohar told Al Borsa. The factory, set to open in early 2027, will house the group’s existing production line at its Badr plant in addition to new production lines. The new factory will allow the company to increase the percentage of local components in its small electric generators from 40-45% to 100%, Gohar said.
EDUCATION-
#1- Nahdet Misr’s edtech-focused VC Edventures invested in AI-powered educational content startup LRNOVA, according to a statement (pdf). The fresh funds and practical support from Edventures will help the edtech expand in the region, with Saudi Arabia being the top priority, according to LRNOVA CEO Mohmaed Amer. The value and terms of the investment were not disclosed
What they said: “We strongly believe in the transformative potential of AI in education. Our investment in LRNOVA is not simply financial support; it represents a clear step in our new strategic direction,” said Edventures CEO Dalia Ibrahim.
#2- The UK’s Anglia Ruskin University is looking to set up an overseas branch in the new capital, according to a statement from the Higher Education Ministry. The university inked a cooperation agreement with Universities of Canada in Egypt to host the branch, which will offer accredited programs under four faculties.
