Egypt’s biggest car assembler Ghabbour Auto (GB Auto) aims at establishing large factory to manufacture autos in the set-to-be-established auto industrial zone in Suez Canal axis.
Speaking to Amwal Al Ghad, CEO Raouf Ghabbour announced Tuesday that GB Auto is to establish the new factory within the upcoming period with investments worth around US$1 billion.
The main factor on which GB Auto depends to pump those new investments is Egyptian government’s decree on the strategy of manufacturing autos, the CEO stated.
He clarified that the total investments of GB Auto in the Egyptian market exceed US$1 billion.
Ghabbour urged the government to endorse this strategy as soon as possible to attract international auto manufacturers to invest in the local market within the upcoming period.