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Financing negotiations back on for Feerum’s long-awaited silo factory. PLUS: Kima + Al Sharq, General Motors, Chevron
The project now carries a revised price tag of EGP 2.5 bn, up from EGP 1.6 bn previously
Organi Group eyes USD 1 bn in auto, tourism investments over the next five years
The big-ticket investment figure will be split evenly between the two sectors
China’s Geely and local partner Auto Mobility to kick off local auto assembly starting today
The new factory is hoping to export 30k vehicles while also meeting local demand
Ezz Elsewedy Auto JV kicks off pilot runs of locally assembled Proton model ahead of mass production launch
The company plans to kick the tires on mass production and launch within weeks.
Auto sales continue to rise 12.5% for the second consecutive month in November
Passenger car sales drove the trend with a 14.8% m-o-m increase to 8.5k for the month
Al Mansour Auto, SAIC’s USD 135 mn MG manufacturing plant to go live in 2026
The factory is set to kick off production in 2Q 2026 will have a local component ratio exceeding 45%
The most notable foreign investments secured in 2024
Egypt secured investments from companies and investors across the globe
Gov’t imposes new personal car import rules to curb USD outflows + Car dealers to import USD 1.8 bn worth of cars next year
The Investment Ministry now limits personal car imports to one every five years to save USD and boost auto localization
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