Arab Finance: Dr. Mostafa Madbouly, Prime Minister, witnessed the signing of Nissan Egypt’s investment contract to manufacture a third model at its factory in Egypt and expand its manufacturing activities in the local market, according to what he said. statement cabinet.
On the sidelines of the signing, Engineer Mohamed Abdel Samad, Managing Director of Nissan Egypt, said: “Under the contract, manufacturing of the third model will begin with a local component exceeding 54%, adding that the company is currently studying plans to export the third “model” that will be assembled locally.”
He continued: “Nissan announced its plan to invest $45 million in this project. In addition, the company will pump additional investments worth $2 million to reach a production capacity for the three models that exceeds 30,000 cars annually starting in 2025.”
The managing director of the company also said: “This coincides with Nissan Egypt’s celebration of the 20th anniversary of its launch in the Egyptian market through its factory wholly owned by the Japanese company.”
In the same context, Engineer Mohamed Abdel Samad pointed out that Nissan Egypt has exported more than 16,000 locally manufactured “Sunny” cars, and is working to move forward to achieve the company’s goals by increasing the volume of its exports by nearly 50% during the current fiscal year compared to At the rates of exports for the fiscal year 2023, it is also working to increase dollar revenues from exports, which so far exceed $150 million.
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