This occurred during a meeting held this morning at the government headquarters in the New Administrative Capital with Al-Mansour Automotive Group officials. Attendees included Lieutenant General Engineer Kamel El-Wazir, Deputy Prime Minister for Industrial Development and Minister of Transport and Industry, Sir Mohamed Mansour, Chairman of the Board of Directors of Al-Mansour Group, Ankush Arora, the Group's CEO, and other officials.
The Prime Minister highlighted the provision of various
facilitations and incentives aimed at advancing the industrial sector to
achieve the state's economic development goals and increase Egyptian exports.
He also noted that the political leadership aims at localizing vehicle industry
in Egypt and maximizing the country's potential and capabilities in this area.
This would enable a strong push towards achieving desired growth rates, in
addition to ongoing efforts to support private sector institutions, attract
further investments, and facilitate the expansion of their activities in car
manufacturing and component production.
Engineer Kamel El-Wazir affirmed the Ministry of Industry's
commitment to providing full support to the company to overcome any challenges
or obstacles in establishing its new factory. He commended the planned
diversity of the company's car production.
During the meeting, Sir Mansour presented Al-Mansour Group's
plans for its new car factory and vehicle filter factory. He highlighted the
total investment of $150 million in these two facilities. He also noted the
signing of a land usufruct contract between Mansour Automotive Manufacturing
Company, Al-Mansour Automotive Group's new industrial arm, and the General
Authority for Land and Dry Ports and Logistics Zones for the construction of
the car factory in New October City's industrial zone. This new company will
focus on manufacturing various types of vehicles at the plant.
Sir Mansour further explained that Al-Mansour Automotive
Group anticipates commencing production at its new car factory in the third
quarter of 2026. The initial production capacity will be 50,000 units, with a
planned increase to 100,000 units annually in the second phase, incorporating
over 45% local components. The car factory will encompass various manufacturing
units across a total area of 47,500 square meters on a 126,000 square meter
land plot.
Regarding the Al-Mansour Vehicle Filters factory in the
Tenth of Ramadan City, Mansour stated that it underscores the Group's
dedication to developing and supporting feeder industries and localizing the
production of automotive components and spare parts. The Group has invested
over $10 million in upgrading the factory with state-of-the-art production
equipment, enabling it to achieve an annual production capacity exceeding ten
million filters to meet the demands of various vehicle types, with significant
export potential.
Ankush Arora, CEO of Al Mansour Automotive Group said that
the support of the government empowers companies to realize their projects and
helps establish Egypt as a key automotive manufacturing center in the region.
These two projects represent some of the largest investments
in Egypt's automotive sector. They align with the government's strategy to
bolster the domestic automotive industry, its supporting industries,
components, and export capabilities. The projects are anticipated to generate
10,000 direct and indirect job opportunities and offer training to qualify new
talents for the market, thus contributing to sustainable economic development
in the country, achieving self-sufficiency in car manufacturing, and enhancing
Egypt's ability to expand into global markets.
Dr. Madbouly commended Al Mansour Automotive Group's
dedication to achieving the objectives of Egypt's automotive industry and the
group's ongoing commitment to increasing its investment in the Egyptian market.
He affirmed his support for the company's expansions and expressed his hope for
further investment growth in Egypt.