Chinese firm eyes building automotive factory in Egypt- minister

Big 5

Egyptian Ministry of Public Enterprise Sector is currently studying an offer proposed by a Chinese firm to build automotive factory for state-based Nasr Car Manufacturing Company, Minister Ashraf Sharkawy stated.

Nasr Car Manufacturing Company was established in 1960 in Helwan producing licensed versions of the Fiat 1100R, Fiat 1300, Fiat 2300, Fiat 128, Fiat 125, Fiat 133, Fiat 126.

On other side, minister Sharkawy pointed out that the ministry is studying developing a number of firms that need restructuring notably Egyptian Iron and Steel company.