Nissan Egypt to invest $55.9m for market expansion by ’26

Nissan Egypt announced plans to invest $55.9 million by 2026 to solidify its position as the market leader in Egypt. The company’s managing director Mohamed Abdel Samad, revealed the investment strategy on Sunday during his meeting with Egyptian Prime Minister Moustafa Madbouly.

According to Abdel Samad, Nissan Egypt has demonstrated strong global competitiveness, exporting over 15,000 locally-produced Sunny models since August 2022. The company aims to increase exports by 50 per cent, generating over $120 million in revenue.

With a 13.5 per cent market share in 2023, Nissan Egypt is the largest Japanese investor in Egypt’s private sector, having invested $235 million and boasting an annual production capacity of 50,000 vehicles. The company directly employs 950 people and supports an additional 4,000 jobs indirectly.

To further expand its operations, Nissan Egypt is establishing a free zone company in Alexandria Port, dedicated to exporting cars and parts. The company will invest $2 million in the 6,000-square-metre facility, which is set to commence operations in November 2024. Production plans include 10,000 units of a new model for the local market and 7,000 units for export in the first year.

Demonstrating its commitment to sustainability, Nissan Egypt operates a 2-megawatt solar power station and is adding 1.8 megawatts by September 2024 and another 2.2 megawatts by 2025, targeting a total of 6 megawatts. Furthermore, the company is implementing a water recycling unit to conserve 28,000 cubic metres of water annually.

Nissan Egypt is also considering establishing a technical school in Egypt, leveraging the expertise of its UK branch.

Attribution: The Egyptian Cabinet

Subediting: Y.Yasser