Banque Misr kicks EGP 2.7 bn for Mansour Group’s vehicle assembly plant

The government’s push to localize auto manufacturing just scored a W. Mansour Group’s MAC for Mobility Manufacturing has secured a EGP 2.7 bn (c. USD 52 mn) loan from Banque Misr to finance a vehicle assembly plant, according to a statement(pdf). The 126k sqm facility will begin operations in 1Q 2027, producing a maximum of 50k sedans, SUVs, and microbuses per year in its first phase.

Where’s the money going? The loan covers roughly 43% of the main project’s EGP 6.3 bn estimated cost, with the remaining balance funded through direct equity injections from Mansour and JV partner SAIC Motor — China’s state-owned automotive manufacturer and the owner of the MG brand. Mansour Group did not respond to our request for more financing details at the time of dispatch this AM.

IN CONTEXT- The project is part of a broader USD 150 mn localization project that includes a separate USD 10 mn vehicle filter facility in Tenth of Ramadan that acts as a feeder industry, helping the main assembly line meet the state’s 20% local component ratio required to access tax incentives. The main assembly project also secured a Golden License from the Cabinet last year, with main construction works awarded toHassan Allam.

Looking forward: Mansour recently secured the agency for BYD electric and hybrid vehicles, with plans to expand local manufacturing to target export markets in the Gulf and Africa.

The localization push

The government realized asking companies to build entire cars from scratch is probably unrealistic, so they revamped theAutomotive Industry Development Program to slash the initial local component ratio to a highly accessible 20%. The strategy? Get global giants like SAIC and BYD to build assembly lines first. Once a physical factory is running, it creates a guaranteed local market for smaller feeder industries to grow organically around them.