Kasrawy, Jetour to establish $123mln factory to assemble Jetour models in Egypt
Arab Finance: Automakers Kasrawy Group and Jetour inked an agreement to develop a new factory to locally assemble the Jetour T1 and T2 models, with an investment of $123 million, according to a statement.
Prime Minister Mostafa Madbouly stated that the joint deal marks a significant move forward in the localization of the automotive industry in Egypt.
To be established on an area of 86,000 square meters in the 6th of October Industrial Zone, the new factory will include three production lines for welding, painting, and final assembly.
Its production will cover the local market's needs, with a portion allocated for export. The factory will offer around 1,500 job opportunities.
On his part, Mohamed El Kasrawy, Chairman of Kasrawy Group, announced the launch of the locally-assembled X70 Plus Jetour model, with an annual production capacity of 5,000 vehicles.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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