Bavaria Group eyes executing new projects in Suez Canal axe region

Egyptian Bavarian Auto Group (BAG) studies executing projects in the new auto city which is set to be established in Suez Canal axe region on an area of 200,000 metres.

Speaking to Amwal Al Ghad on Wednesday, CEO Farid El Tobgui stated that BAG plans to hold a meeting with Chairman of the Egyptian Authority for the Suez Canal Economic Zone (SCZone), Ahmed Darwish soon to discuss participating in the new auto city.

BAG is currently conducting a detailed technical studies on establishing a new factory in the city as well as the expected investment returns, the official noted.

El Tobgui added that Egypt is the most attractive market for new investments, notably the automotive sector, despite the challenges that face industry sector during the current period.

The Bavarian Auto Group is an Egyptian enterprise for manufacturing and selling BMW vehicles on the local market.