Egypt, Japan’s Nissan reach tentative deal to produce 100,000 vehicles

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Egypt has reached an initial deal with Japan’s Nissan Motor to produce vehicles in Egypt with the aim of exporting, Public Enterprise Minister Hesham Tawfik said on Tuesday.

The deal, signed in partnership with the government’s Nasr Co for vehicle manufacturing, aims to produce 100,000 vehicles annually, increase the percentage of locally manufactured components and export to other countries, Tawfik said.

The final deal is expected to be signed in three months.

The minister announced the deal during a business forum titled Portfolio Egypt Conference 2019 in Cairo.

Source: Ahram Online