{"id":656306,"date":"2024-12-02T00:00:00","date_gmt":"2024-12-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/02\/fresh-details-on-our-auto-feeder-industry-localization-plans\/"},"modified":"2024-12-02T00:00:00","modified_gmt":"2024-12-02T00:00:00","slug":"fresh-details-on-our-auto-feeder-industry-localization-plans","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/02\/fresh-details-on-our-auto-feeder-industry-localization-plans\/","title":{"rendered":"Fresh details on our auto feeder industry localization plans"},"content":{"rendered":"

Good afternoon everyone, and hope you\u2019re having a wonderful Monday.<\/strong> We have a busy issue for you today, so without further ado, let\u2019s jump in.<\/p>\n

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HAPPENING NOW<\/p>\n

The ministerial conference for strengthening the humanitarian response in Gaza is <\/strong>taking place today<\/a> in Cairo<\/strong> under the patronage of President Abdel Fattah El Sisi, with a number of ministries and around 103 foreign delegations in attendance. The conference will focus on securing commitments for aid to Gaza, mobilizing efforts for urgent humanitarian relief and renewed ceasefire talks, and discussing regional security. <\/p>\n

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THE BIG STORY TODAY<\/p>\n

Fresh details on gov\u2019t efforts to localize auto feeder industries: <\/strong>The Industry Ministry unveiled new details about the government\u2019s auto industry localization plans at today\u2019s meeting of the ministerial group for industrial development, including updates on our upcoming tire-production and other auto feeder industry projects, according to a ministry statement<\/a>. <\/p>\n

What we thought was going to be a tire plant is actually going to be a whole tire city: <\/strong>The meeting included fresh details the Arab Organization for Industrialization\u2019s plan to establish a USD 360 mn tire-manufacturing city<\/a> in partnership with an unnamed Chinese tire production company, which is reportedly set to kick off its first phase within a year. The statement revealed that the city will include three tire factories, a plant for producing tire manufacturing equipment, service and maintenance centers, a steel wire factory, a white carbon production facility, and research and training facilities. <\/p>\n

More: <\/strong>The meeting also touched on plans to develop tire factories in Alexandria and Amreya, manufacture solar panel glass, and produce batteries for El Nasr Automotive\u2019s microbuses<\/a>, all in partnership with regional and international companies. The statement added that El Nasr Automotive will be providing luxury buses for passenger services at high-speed rail stations in Egypt\u2019s new cities.<\/p>\n

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THE BIG STORY ABROAD<\/p>\n

The US introduces additional restrictions on transferring memory chips to China:<\/strong> The US has introduced its latest set of restrictions on transferring semiconductor chips to China, curbing exports to 140 companies in the world\u2019s second largest economy, as the Biden administration continues its crackdown on China's semiconductor industry. The move \u2014 the fourth such crackdown in three years \u2014 will limit the sale of high-bandwidth memory chips used in AI applications and reduce the chip-making tools made available to China. (Wall Street Journal<\/a> | Reuters<\/a>) <\/p>\n

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