{"id":586561,"date":"2023-05-14T00:00:00","date_gmt":"2023-05-14T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/14\/ashok-leyland-could-partner-with-el-nasr-auto-on-evs\/"},"modified":"2023-05-14T00:00:00","modified_gmt":"2023-05-14T00:00:00","slug":"ashok-leyland-could-partner-with-el-nasr-auto-on-evs","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/14\/ashok-leyland-could-partner-with-el-nasr-auto-on-evs\/","title":{"rendered":"Ashok Leyland could partner with El Nasr Auto on EVs"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">AUTOMOTIVE-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">El Nasr potentially has a new suitor on EVs:<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ashokleyland.com\/in\/en\" style=\"\">Ashok Leyland<\/a><\/span><span style=\"\">, a subsidiary of Indian <\/span><span style=\"\">conglomerate <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.hindujagroup.com\/\" style=\"\">Hinduja<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.hindujagroup.com\/\" style=\"\">Group<\/a><\/span><span>, could partner with state-owned firm El Nasr Automotive to form a joint venture for locally-made electric vehicles, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/story.php?story_fbid=pfbid02XnJ7xUCEQ5Dtcf35Ghse7ZoMw2MoSrv6btsQWUCJHhHhqXDgavcCRWDTx7sYLGbtl&id=100082443635568&mibextid=qC1gEa&paipv=0&eav=AfZxVFi68D2sbtf2F7dCBHAp6qAc9WP81Qy55dWbQJhFR6aF2Zuxw_38pSUqRo781Yg&_rdr\" style=\"\">the Public Enterprises Ministry<\/a><\/span><span>,<\/span><span> which recently met with the firm to <\/span><span>discuss<\/span><span> the project. Local media last month <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6a37d796-8ad7-46c4-8c71-90b7b467503d\" style=\"\">reported<\/a><\/span><span style=\"font-weight:400;\"> that El Nasr was in talks with unnamed Indian and Chinese firms to partner on the project. The government has been searching for a replacement partner since talks with Chinese firm Dongfeng fell through in 2021. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">TRANSPORT-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Saudi\u2019s Al Gihaz to acquire non-operational marine units + Saudi subsidiary owned by <\/span><span style=\"font-weight:700\">Maridive:<\/span><span> Maridive & Oil Services\u2019 board of directors approved last week Saudi conglomerate Al Gihaz Holding\u2019s bid to acquire two non-operational marine units and a dormant Saudi unit owned by its subsidiary, Valentine Maritime, for a total of USD 115.6 mn to settle the group\u2019s bank debt and trade liabilities, Maridive said in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/5\/599.pdf\" style=\"\">an EGX disclosure (pdf)<\/a><\/span><span>. The transaction is within Maridive\u2019s strategy to deleverage its balance sheet and divest its non-core offshore EPC unit. There will be no net proceeds for Maridive as part of the agreement.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">REMEMBER- <\/span><span>Maridive in November was <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e00ca2f4-29f5-4553-bfe1-5ddf96cf7380\" style=\"\">mulling two separate bids<\/a><\/span><span style=\"font-weight:400;\"> from Al Gihaz Holding and Abu Dhabi\u2019s Ancla Marine Ship Management to acquire Valentine Maritime, which specializes in oil rig and chartering services and currently operates in India and the Gulf.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">TOURISM-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">From Sphinx International to Italy:<\/span><span style=\"\"> Hungarian budget airline Wizz Air will start <\/span><span>operating four weekly flights from Sphinx Airport to several cities in Italy \u2014 Rome, Milan and Venice \u2014 starting from the middle of June, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/41mIOr5\" style=\"\">Al Mal<\/a><\/span><span style=\"font-weight:400;\"> reports, citing head of the Egyptian Airports Company Ahmed Mansour.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">INFRASTRUCTURE-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The Damietta Port Authority is looking to cooperate with private sector players<\/span><span style=\"\"> to <\/span><span>establish a new 5k sqm container terminal for dry bulk cargo, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.alborsaanews.com\/2023\/05\/13\/1666159\" style=\"\">Al Borsa<\/a><\/span><span style=\"font-weight:400;\"> reported. The winning bidder will be responsible for constructing, operating and maintaining the terminal for three years, according to the newspaper.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MANUFACTURING- <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Public-private silicon partnership: <\/span><span style=\"\">State-owned oil and metals companies have <\/span><span>formed a silicon manufacturing JV with private sector players Libra Capital, a subsidiary of Enara Group, and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"http:\/\/central-desert.com\/About-Us\" style=\"\">Central Desert Mining Company<\/a><\/span><span>, according to an Oil Ministry <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.petroleum.gov.eg\/ar-eg\/media-center\/news\/news-pages\/Pages\/mop_08052023_02.aspx\" style=\"\">statement<\/a><\/span><span style=\"font-weight:400;\">. El Alamein Silicon Products Company will build a USD 172 mn factory that is set to produce silicon metal, polysilicon and silicon derivatives. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>El Nasr Auto has been looking for a new foreign partner since talks with Dongfeng ended in 2021<\/p>\n","protected":false},"author":1,"featured_media":586562,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[6361,111,144,250,72,356,7111,131,2840,238,207],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-586561","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-al-gihaz-holding","tag-also-on-our-radar","tag-automotive","tag-el-nasr-automotive","tag-enterpriseam","tag-evs","tag-infrastructure","tag-manufacturing","tag-maridive","tag-tourism","tag-transport","wpautop","entry"],"acf":{"mongo_id":"2fc6d644-f126-40b3-81e9-417b7c0213ad","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/5\/720.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Ashok Leyland in talks with Egyptian government to partner on EVs","related_issue":[586540],"teaser":"El Nasr Auto has been looking for a new foreign partner since talks with Dongfeng ended in 2021","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/5\/.b9f44940-8ae6-42c5-9bd9-c074c9db7ed7.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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The upcoming agreement for the assembly of the EVs will be \u201cvery different\u201d from the\u2026","rel":"","context":"In &quot;Automotive&quot;","block_context":{"text":"Automotive","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/automotive\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":549130,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/05\/el-nasr-could-sign-final-contracts-to-produce-evs-next-month\/","url_meta":{"origin":586561,"position":2},"title":"El Nasr could sign final contracts to produce EVs next month","author":"enterpriseam admin","date":"5 September 2022","format":false,"excerpt":"It only took 3+ years, but El Nasr Auto might finally be ready to finalize contracts for EV assembly: El Nasr Automotive expects to sign final contracts to produce electric vehicles with an unnamed Chinese company in mid-October, Al Borsa reported yesterday, citing an anonymous source at the company. 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El Nasr Automotive has signed an MoU with Chinese car manufacturer BAIC Group to produce EVs in Egypt and is planning to sign final contracts by the end of July, a source with\u2026","rel":"","context":"In &quot;Automotive&quot;","block_context":{"text":"Automotive","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/automotive\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/9\/cars-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":553488,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/06\/were-set-to-have-a-new-ev-partner-within-weeks\/","url_meta":{"origin":586561,"position":4},"title":"We\u2019re set to have a new EV partner within weeks","author":"enterpriseam admin","date":"6 December 2021","format":false,"excerpt":"El Nasr\u2019s EV speed dating pool is down to three Chinese partners: State-owned El Nasr Automotive will begin meeting today with three Chinese companies it has shortlisted as its potential partner on locally assembling electric vehicles, Public Enterprises Minister Hisham Tawfik told CNBC Arabia (watch, runtime: 1:44). 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