Egypt Daily News – Today, at the Government Headquarters in the New Administrative Capital, Mostafa Madbouly, Prime Minister, witnessed the signing ceremony of both an exclusive technical licensing agreement between “Al-Mansour Automotive Group” and the Chinese “SAIC Motor Company,” With the aim of manufacturing MG cars in Egypt, the Prime Minister also witnessed the signing ceremony of a contract to allocate an area of land under the usufruct system, between the Ministry of Transport (represented by the General Authority for Land and Dry Ports).
A new factory for manufacturing MG cars in the industrial zone of New October City, with investments amounting to 135 million dollars, in the presence of Kamel Al-Wazir, Deputy Prime Minister for Industrial Development, Minister of Industry and Transport, and Hassan Al-Khatib, Minister of Investment and Foreign Trade.
The exclusive technical license agreement was signed by Ankush Arora, CEO of MAC Transportation Manufacturing Company, one of the Al-Mansour Automotive Group companies, and Amin Zhao, Vice President of the Chinese SAIC Motor Company.
The land contract was signed by Sayed Metwally, Chairman of the General Authority for Land and Dry Ports, and Ankush Arora, CEO of MAC Transportation Manufacturing Company.
On the sidelines of the signing, Dr. Mostafa Madbouly, Prime Minister, said: Today we celebrate two very important signatures, according to which a new car factory will be established in the industrial zone of New October City, with investments of $135 million, in an Egyptian-Chinese partnership to produce MG cars in Egypt, with a local component of more than 45%.
The Prime Minister added that the establishment of the new automobile factory comes thanks to the policies that the Egyptian state has adopted over the past years in terms of supportive policies for the automobile sector, which are policies that were included in the national strategy for the localization of the automobile industry, within the framework of the directives of Abdel Fattah El-Sisi, to present various images. Possible support for the localization of the automobile industry in Egypt, and increasing the proportion of the local component in this important industry.
In turn, Lieutenant General Kamel Al-Wazir, Deputy Prime Minister for Industrial Development, Minister of Industry and Transport, said that the signing of an exclusive technical licensing agreement between the Chinese “SAIC Motors” company, the parent company that owns “MG Motor” and “Al-Mansour Automotive Group.” For the purpose of manufacturing “MG” cars in Egypt, it comes within the framework of the directives of President Abdel Fattah El-Sisi, to advance the industrial sector in Egypt and work to localize various industries with the aim of transforming Egypt into a regional industrial center, and working to maximize cooperation with the international and local private sector.
The Deputy Prime Minister for Industrial Development added: This agreement is an important step towards strengthening and developing the automobile industry in Egypt. The project is also one of the largest investments in the Egyptian automobile industry sector, and it also comes within the framework of supporting the Egyptian government’s strategy to strengthen the local automobile industry and increase export capacity.
