{"id":655102,"date":"2024-11-13T00:00:00","date_gmt":"2024-11-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/13\/malaysian-automaker-proton-cuts-the-ribbon-on-egp-3-bn-assembly-plant\/"},"modified":"2024-11-13T00:00:00","modified_gmt":"2024-11-13T00:00:00","slug":"malaysian-automaker-proton-cuts-the-ribbon-on-egp-3-bn-assembly-plant","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/13\/malaysian-automaker-proton-cuts-the-ribbon-on-egp-3-bn-assembly-plant\/","title":{"rendered":"Malaysian automaker Proton cuts the ribbon on EGP 3 bn assembly plant"},"content":{"rendered":"

Locally assembled Proton models will soon be hitting Egyptian streets: <\/strong>A EGP 3 bn factory to assemble Malaysian automaker Proton\u2019s Saga model was officially opened yesterday, according to a statement<\/a> from the Industry Ministry. The cars will be assembled by Proton\u2019s local agent, Ezz El Arab JV Ezz Elsewedy Automotive Factories (ESAF).<\/p>\n

Remember: <\/strong>Elsewedy Electric sister company Elsewedy Capital and automotive group Ezz El Arab launched joint venture ESAF late last year<\/a> to assemble petrol and electric vehicles. The JV was set to receive more than USD 15 mn of investment to assemble 50k Proton-branded petrol cars and EVs annually in the \u201ccoming years.\u201d<\/p>\n

By the numbers: <\/strong>ESAF is targeting an annual production capacity of 40k \u2014 to be doubled at a later stage \u2014 and a local component ratio of 48%. The plant will export some 10% of its production in the first year of operations, before expanding the amount of cars exported, and will create some 300 jobs. <\/p>\n

The project is ahead of schedule: <\/strong>The factory will start assembly next month, according to the statement, ahead of Proton Egypt General Manager Bassem Ashmawy\u2019s comments earlier this year<\/a> that the company would start locally assembling its Saga model in early 2025.<\/p>\n

A call for more Malaysian investments:<\/strong> Malaysian Prime Minister Anwar Ibrahim attended the inauguration as part of his four-day visit to Egypt<\/a>, which saw deputy president for industrial development and trade minister, Kamel El Wazir, invite Malaysian companies to invest in the country, positioning Egypt as an export hub to European, African and Middle Eastern countries. <\/p>\n

ALSO IN AUTOMOTIVE NEWS-<\/p>\n

FRA approves guidelines for EV ins. policies:<\/strong> The Financial Regulatory Authority (FRA) has approved two guiding documents for ins. policies covering electric vehicles (EVs) for personal and commercial use, Al Mal<\/a> reports, citing the Ins. Federation of Egypt\u2019s auto division head, Arabi Al Sayed.<\/p>\n

The details: <\/strong>The guiding documents see ins. plans covering accidents, repairs, fires, theft, third-party liability, and passenger protection for EV owners \u2014 though only if they follow manufacturer guidelines to avoid issues, such as only using original chargers and safely disposing of damaged batteries. Cyberattacks are excluded from coverage. Each ins. company must get FRA approval before issuing either of the approved policies.<\/p>\n","protected":false},"excerpt":{"rendered":"

The factory will start assembly of Proton\u2019s Saga model next month<\/p>\n","protected":false},"author":1,"featured_media":655103,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[7339],"tags":[144,152,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-655102","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-automotive","tag-automotive","tag-elsewedy-electric","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"e07a97a8-4c97-47b4-9a4f-efced3f87fc3","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/1194.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Malaysian automaker Proton cuts the ribbon on EGP 3 bn assembly plant","related_issue":[655097],"teaser":"The factory will start assembly of Proton\u2019s Saga model next month","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.5b11ad4e-4c8c-43db-b84f-5fe11241ab4c.mp3"},"yoast_head":"\nMalaysian automaker Proton cuts the ribbon on EGP 3 bn assembly plant - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/13\/malaysian-automaker-proton-cuts-the-ribbon-on-egp-3-bn-assembly-plant\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Malaysian automaker Proton cuts the ribbon on EGP 3 bn assembly plant\" \/>\n<meta property=\"og:description\" content=\"The factory will start assembly of Proton\u2019s Saga 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PLUS: Talgo, Aton + Ankh + Centamin, IFC + Tanmiya Capital Ventures, Fujifilm","author":"enterpriseam admin","date":"25 August 2024","format":false,"excerpt":"The company plans to invest some EGP 2 bn during the first two years of production","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2087.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":572442,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/24\/your-top-infrastructure-stories-of-the-week-12\/","url_meta":{"origin":655102,"position":4},"title":"Your top infrastructure stories of the week","author":"enterpriseam admin","date":"24 June 2020","format":false,"excerpt":"Your top infrastructure stories of the week: Elsewedy secures Mostakbal City project: Elsewedy Electric\u2019s Trading & Distribution unit signed a EGP 423.3 mn agreement with El Mostakbal Urban Development to complete electricity and communications infrastructure for sections of phase three of Mostakbal City.HA to construct Afghan power plant: Hassan Allam\u2026","rel":"","context":"In \"Afghanistan\"","block_context":{"text":"Afghanistan","link":"https:\/\/enterpriseam.com\/egypt\/tag\/afghanistan\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":658585,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/13\/gafi-mulls-changes-to-the-companies-act\/","url_meta":{"origin":655102,"position":5},"title":"GAFI mulls changes to the Companies Act","author":"enterpriseam admin","date":"13 January 2025","format":false,"excerpt":"Good afternoon all you wonderful people, and happy Monday. Read on for all the latest below.THE BIG STORY TODAY Could a revamped Companies Act be on the table? The General Authority for Investment and Freezones (GAFI) plans to prepare a revamped companies law to replace the Companies Act, GAFI boss\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/1\/693.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/655102","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=655102"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/655102\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/655097"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/655103"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=655102"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=655102"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=655102"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=655102"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=655102"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}