GB Auto Ramps Up Capacity At Prima Assembly Plant

GB Auto (AUTO.CA), Egypt’s biggest listed automobile company, has more than doubled capacity at its Prima plant where it assembles cars for Hong Kong-based Geely Automobile Holding.

The biggest car importer and distributor in the Middle East and North Africa, which controls a third of the Egyptian car market, said on Monday the plant can now assemble 70,000 cars a year, up from 30,000 cars.

GB Auto signed a deal in February under which it will assemble cars using kits supplied by Geely.

Chief executive Raouf Ghabbour said in March the Geely deal would allow GB Auto to fill a gap in the market for cars costing 60,000-70,000 Egyptian pounds ($9,800-$11,500).

“The facility has already produced the first locally assembled Geely Emgrand 7 models,” the company said on Monday. ($1 = 6.0980 Egyptian pounds)

Reuters