Korea’s Hyundai to establish Containers Factory in Egypt

Egyptian Ministry of State for Military Production is negotiating with the Korean Hyundai Motor Company to establish factory  to produce containers in new Suez Canal Axis, Ibrahim Younis -Minister- quoted on Monday.

The minister made these remarks during Egypt-South Korean economic cooperation conference held by Al-Ahram in cooperation with the Association for Egyptian and South Korean Partnership

He noted that Korea will collaborate with Egypt during the upcoming period in electronic industries and renewable energy fields .

According to Al-Ahram , the Egyptian producers are ready to take part in joint projects with the Korean side whenever it pump new investments in Egypt.

The ministry is qualified to enhance the cooperation with Korea as it owns ready production lines, Younis clarified.

He further stated that Korean investments will be injected in automobile industry to develop El Nasr Automotive Manufacturing Company after manufacturing cars has been separated from manufacturing lorries .