Latest news with #ElNasrAutomotive
Zawya
28-05-2025
- Automotive
- Zawya
Egypt's PM orders revival of El Nasr Automotive, launch of globally rated bus production initiative
Egypt - Prime Minister Mostafa Madbouly held a meeting on Tuesday with Minister of Public Enterprises Sector Mohamed El-Shimy to review the latest developments across the ministry's portfolio, including efforts to revitalize strategic industries and expand cooperation with the private sector. At the beginning of the meeting, Madbouly reaffirmed the state's commitment to improving the performance and governance of public sector companies, enhancing their competitiveness, and maximizing the returns on state-owned assets. These priorities, he said, are aligned with Egypt's Vision 2030 and its goals for sustainable economic development. The Prime Minister specifically directed the re-launch of El Nasr Automotive, one of Egypt's historically significant industrial brands, as well as the launch of a new bus manufacturing initiative that meets international quality standards. These projects are part of a broader strategy to localize transportation manufacturing, attract investment, and boost exports. Madbouly also emphasized the importance of leveraging private-sector partnerships to improve operational efficiency and generate higher returns across state-owned enterprises. He called for offering a greater number of projects to private investment, allowing for more effective management while preserving state interests. Minister El-Shimy confirmed that the ministry's current strategy is grounded in comprehensive reform and modernization efforts to enhance the sustainability and economic contribution of affiliated companies. He noted that the ministry oversees six holding companies, which collectively manage 63 subsidiaries employing more than 100,000 workers. Additionally, the ministry holds equity in 106 joint-stock companies. Outlining the ministry's work plan for the 2024–2027 period, El-Shimy explained that it is guided by Egypt Vision 2030, the State Ownership Policy Document, and the Government Work Program. Under this framework, the government will reduce or exit investments in certain sectors, maintain a limited presence in others, and continue direct involvement in strategically important industries—many of which will be developed through joint public-private projects. El-Shimy presented the ministry's performance report, emphasizing that its overarching goal is to achieve the highest possible return on public investments by enhancing the competitiveness of affiliated companies both locally and internationally. He stressed that the ministry is committed to modernizing management systems, adopting advanced technologies, and investing in workforce development to meet global standards. He also noted that the ministry is currently overseeing 97 strategic projects across sectors such as textiles, pharmaceuticals, chemicals, metallurgy, tourism, and trade. These projects are designed to revive industrial production, expand export capacity, and integrate more deeply into global value chains. According to El-Shimy, financial performance across Public Enterprises Sector companies has shown consistent improvement over the past decade. From fiscal year 2014/2015 to the current fiscal year, revenues and net profits have steadily increased. He reported that the value of goods and services exported by these companies reached $860 million by the third quarter of fiscal year 2024/2025, compared to $668 million in the previous year. He added that over the past 10 years, non-tax revenues from Public Enterprises Sector companies have grown by more than 347%, largely due to increased investment returns and improved efficiency. In closing, the minister highlighted the role of public sector companies in supporting national development priorities, including the revival of manufacturing, the development of specialized industries such as pharmaceuticals and chemicals, the expansion of urban and tourism infrastructure, and the growth of local trade. The government, he said, remains committed to transforming these companies into dynamic, competitive entities that contribute meaningfully to the national economy. As part of the government's push to revive Egypt's industrial base, Minister El-Shimy provided a detailed update on the restructuring and development plans for companies affiliated with the cotton, spinning, and weaving sector. These efforts fall under the broader national strategy to modernize the spinning and weaving industry and enhance its competitiveness both locally and internationally. The minister noted that the first phase of the development plan—accounting for 18% of the total scope—has been fully completed. The second phase, representing 28% of the plan, has reached 70% completion and is expected to be finalized within the current year. The third and largest phase, covering 54% of the overall project, is currently 54% complete and on track for completion by 2026. These phases are not only focused on infrastructure and equipment upgrades but also address the supply chain for raw materials, including long- and short-staple cotton and polyester. Turning to the metallurgical industries, El-Shimy highlighted the successful revival of El Nasr Automotive Company, marking a milestone in Egypt's effort to localize the automotive industry. Bus production has resumed at international quality standards, with the factory now producing five buses per week, mainly for tourist transport firms. Additional deliveries are underway, including electric buses and minibuses. The infrastructure at Bus Factories 3 and 4, as well as at passenger car facilities, has been fully upgraded, including state-of-the-art painting, body assembly, and final assembly lines. Projects also include battery and chassis assembly operations. In the steel sector, Delta Steel Company completed construction of iron and steel foundries with an annual production capacity of 10,000 tonnes. New rolling mills have been acquired, while El Nasr Glass and Crystal Company has improved its embossed glass production. At the Mines and Quarries Company, modern crushing equipment and new production lines for raw materials have been installed. Further development projects are underway at Egyptalum in Naga Hammadi. These include the procurement and installation of a wire production machine with a monthly capacity of 6,000 tons, the construction of a 50,000-ton alumina storage silo, and the establishment of a new production line for pharmaceutical-grade aluminium discs. Additionally, Egyptian Ferroalloys Company in Aswan is undergoing a major overhaul of its fourth furnace, with future expansion plans already in the pipeline. A new industrial complex dedicated to phosphate ore concentration is also being established at Nasr Mining Company, aiming to increase value-added output from Egypt's mineral resources. The minister also addressed ongoing efforts to maximize the value of public business assets and strengthen private-sector participation in real estate and infrastructure projects. A key example is the development of New Heliopolis City by Misr El Gadida for Housing and Development. The 300-acre urban development includes a fully developed marketing strategy, with projected revenues from the first phase estimated at around EGP 4bn. These initiatives reflect a multi-sectoral approach to reform, designed to revitalize national industries, promote export-oriented production, and foster effective collaboration between the public and private sectors in line with Egypt's long-term economic goals.
Daily News Egypt
28-05-2025
- Automotive
- Daily News Egypt
PM orders revival of El Nasr Automotive, launch of globally rated bus production initiative
Prime Minister Mostafa Madbouly held a meeting on Tuesday with Minister of Public Enterprises Sector Mohamed El-Shimy to review the latest developments across the ministry's portfolio, including efforts to revitalize strategic industries and expand cooperation with the private sector. At the beginning of the meeting, Madbouly reaffirmed the state's commitment to improving the performance and governance of public sector companies, enhancing their competitiveness, and maximizing the returns on state-owned assets. These priorities, he said, are aligned with Egypt's Vision 2030 and its goals for sustainable economic development. The Prime Minister specifically directed the re-launch of El Nasr Automotive, one of Egypt's historically significant industrial brands, as well as the launch of a new bus manufacturing initiative that meets international quality standards. These projects are part of a broader strategy to localize transportation manufacturing, attract investment, and boost exports. Madbouly also emphasized the importance of leveraging private-sector partnerships to improve operational efficiency and generate higher returns across state-owned enterprises. He called for offering a greater number of projects to private investment, allowing for more effective management while preserving state interests. Minister El-Shimy confirmed that the ministry's current strategy is grounded in comprehensive reform and modernization efforts to enhance the sustainability and economic contribution of affiliated companies. He noted that the ministry oversees six holding companies, which collectively manage 63 subsidiaries employing more than 100,000 workers. Additionally, the ministry holds equity in 106 joint-stock companies. Outlining the ministry's work plan for the 2024–2027 period, El-Shimy explained that it is guided by Egypt Vision 2030, the State Ownership Policy Document, and the Government Work Program. Under this framework, the government will reduce or exit investments in certain sectors, maintain a limited presence in others, and continue direct involvement in strategically important industries—many of which will be developed through joint public-private projects. El-Shimy presented the ministry's performance report, emphasizing that its overarching goal is to achieve the highest possible return on public investments by enhancing the competitiveness of affiliated companies both locally and internationally. He stressed that the ministry is committed to modernizing management systems, adopting advanced technologies, and investing in workforce development to meet global standards. He also noted that the ministry is currently overseeing 97 strategic projects across sectors such as textiles, pharmaceuticals, chemicals, metallurgy, tourism, and trade. These projects are designed to revive industrial production, expand export capacity, and integrate more deeply into global value chains. According to El-Shimy, financial performance across Public Enterprises Sector companies has shown consistent improvement over the past decade. From fiscal year 2014/2015 to the current fiscal year, revenues and net profits have steadily increased. He reported that the value of goods and services exported by these companies reached $860 million by the third quarter of fiscal year 2024/2025, compared to $668 million in the previous year. He added that over the past 10 years, non-tax revenues from Public Enterprises Sector companies have grown by more than 347%, largely due to increased investment returns and improved efficiency. In closing, the minister highlighted the role of public sector companies in supporting national development priorities, including the revival of manufacturing, the development of specialized industries such as pharmaceuticals and chemicals, the expansion of urban and tourism infrastructure, and the growth of local trade. The government, he said, remains committed to transforming these companies into dynamic, competitive entities that contribute meaningfully to the national economy. As part of the government's push to revive Egypt's industrial base, Minister El-Shimy provided a detailed update on the restructuring and development plans for companies affiliated with the cotton, spinning, and weaving sector. These efforts fall under the broader national strategy to modernize the spinning and weaving industry and enhance its competitiveness both locally and internationally. The minister noted that the first phase of the development plan—accounting for 18% of the total scope—has been fully completed. The second phase, representing 28% of the plan, has reached 70% completion and is expected to be finalized within the current year. The third and largest phase, covering 54% of the overall project, is currently 54% complete and on track for completion by 2026. These phases are not only focused on infrastructure and equipment upgrades but also address the supply chain for raw materials, including long- and short-staple cotton and polyester. Turning to the metallurgical industries, El-Shimy highlighted the successful revival of El Nasr Automotive Company, marking a milestone in Egypt's effort to localize the automotive industry. Bus production has resumed at international quality standards, with the factory now producing five buses per week, mainly for tourist transport firms. Additional deliveries are underway, including electric buses and minibuses. The infrastructure at Bus Factories 3 and 4, as well as at passenger car facilities, has been fully upgraded, including state-of-the-art painting, body assembly, and final assembly lines. Projects also include battery and chassis assembly operations. In the steel sector, Delta Steel Company completed construction of iron and steel foundries with an annual production capacity of 10,000 tonnes. New rolling mills have been acquired, while El Nasr Glass and Crystal Company has improved its embossed glass production. At the Mines and Quarries Company, modern crushing equipment and new production lines for raw materials have been installed. Further development projects are underway at Egyptalum in Naga Hammadi. These include the procurement and installation of a wire production machine with a monthly capacity of 6,000 tons, the construction of a 50,000-ton alumina storage silo, and the establishment of a new production line for pharmaceutical-grade aluminium discs. Additionally, Egyptian Ferroalloys Company in Aswan is undergoing a major overhaul of its fourth furnace, with future expansion plans already in the pipeline. A new industrial complex dedicated to phosphate ore concentration is also being established at Nasr Mining Company, aiming to increase value-added output from Egypt's mineral resources. The minister also addressed ongoing efforts to maximize the value of public business assets and strengthen private-sector participation in real estate and infrastructure projects. A key example is the development of New Heliopolis City by Misr El Gadida for Housing and Development. The 300-acre urban development includes a fully developed marketing strategy, with projected revenues from the first phase estimated at around EGP 4bn. These initiatives reflect a multi-sectoral approach to reform, designed to revitalize national industries, promote export-oriented production, and foster effective collaboration between the public and private sectors in line with Egypt's long-term economic goals.
Zawya
24-04-2025
- Automotive
- Zawya
Al Safy-El Nasr Alliance appoints Yehia A. Halim as CEO of SN Automotive
The alliance of Al Safy Group and El Nasr Automotive Manufacturing Company has named Yehia A. Halim as CEO of SN Automotive (Safy Nasr Automotive), tasked with steering the company through final preparations to launch a diverse range of modern car models. These vehicles will cater to the Egyptian market with competitive pricing while maintaining global standards of quality and specifications. A. Halim brings over 30 years of automotive industry experience, having held leadership roles at major global car manufacturers in Egypt and the Gulf, including Toyota, the Bavarian Auto Group (BMW), Nissan, Renault, and Audi in Egypt, as well as Hyundai and Nissan in Saudi Arabia and Hummer and Cadillac in the UAE. SN Automotive is the product of a strategic partnership between Al Safy Group and El Nasr Automotive, with capital exceeding one billion Egyptian pounds. The company serves as the agent for leading Chinese automotive firms, overseeing project financing, assembly, manufacturing rights, and domestic distribution. Meanwhile, El Nasr Automotive handles all manufacturing operations, aligning with a broader vision to build an integrated, sustainable local automotive industry. Al Safy Group holds a 76% stake in the venture, while El Nasr Automotive owns 24%. The alliance aims to accelerate the localization of car production in Egypt, in line with the Egypt 2030 vision to establish the country as a regional industrial hub. Yehia A. Halim, CEO of SN Automotive, stated: "We aim to revolutionize Egypt's automotive industry by merging global expertise, cutting-edge technology, and local capabilities. Our goal is to deliver vehicles that not only offer competitive pricing but also meet the aspirations of Egyptian customers seeking performance, quality, luxury, and efficiency." SN Automotive represents a promising model of public-private collaboration, leveraging El Nasr Automotive's advanced facilities in Helwan, equipped with state-of-the-art automated welding lines. The company plans to increase the local component ratio from 45% to over 60%, bolstering ancillary industries and creating job opportunities for Egyptian youth. A. Halim emphasized: "At SN Automotive, we are committed to adopting the latest assembly and manufacturing technologies, striving to become a turning point in the local automotive sector and a pioneer in regional innovation." "Our ambitions extend beyond meeting domestic demand—we aim to export vehicles to North Africa, capitalizing on Egypt's strategic location and trade agreements with the EU and African nations", He added. SN Automotive is deepening cooperation with local component suppliers and expanding its showroom and service networks nationwide, seeking to drive positive change in Egypt's automotive sector and industrial landscape. The company is focused on enhancing quality, localizing production, and delivering vehicles tailored to Egyptian customers, positioning itself as a national platform for industrial development and a key contributor to the future of mobility in Egypt and the region.
Economic Key
23-04-2025
- Automotive
- Economic Key
SN Automotive Appoints Yehia Abdel Halim as CEO to Lead Egypt's Car Manufacturing Transformation
The alliance of Al Safy Group and El Nasr Automotive Manufacturing Company has named Yehia A. Halim as CEO of SN Automotive (Safy Nasr Automotive), tasked with steering the company through final preparations to launch a diverse range of modern car models. These vehicles will cater to the Egyptian market with competitive pricing while maintaining global standards of quality and specifications. A. Halim brings over 30 years of automotive industry experience, having held leadership roles at major global car manufacturers in Egypt and the Gulf, including Toyota, the Bavarian Auto Group (BMW), Nissan, Renault, and Audi in Egypt, as well as Hyundai and Nissan in Saudi Arabia and Hummer and Cadillac in the UAE. SN Automotive is the product of a strategic partnership between Al Safy Group and El Nasr Automotive, with capital exceeding one billion Egyptian pounds. The company serves as the agent for leading Chinese automotive firms, overseeing project financing, assembly, manufacturing rights, and domestic distribution. Meanwhile, El Nasr Automotive handles all manufacturing operations, aligning with a broader vision to build an integrated, sustainable local automotive industry. Al Safy Group holds a 76% stake in the venture, while El Nasr Automotive owns 24%. The alliance aims to accelerate the localization of car production in Egypt, in line with the Egypt 2030 vision to establish the country as a regional industrial hub. Yehia A. Halim, CEO of SN Automotive, stated: 'We aim to revolutionize Egypt's automotive industry by merging global expertise, cutting-edge technology, and local capabilities. Our goal is to deliver vehicles that not only offer competitive pricing but also meet the aspirations of Egyptian customers seeking performance, quality, luxury, and efficiency.' SN Automotive represents a promising model of public-private collaboration, leveraging El Nasr Automotive's advanced facilities in Helwan, equipped with state-of-the-art automated welding lines. The company plans to increase the local component ratio from 45% to over 60%, bolstering ancillary industries and creating job opportunities for Egyptian youth. A. Halim emphasized: 'At SN Automotive, we are committed to adopting the latest assembly and manufacturing technologies, striving to become a turning point in the local automotive sector and a pioneer in regional innovation.' 'Our ambitions extend beyond meeting domestic demand—we aim to export vehicles to North Africa, capitalizing on Egypt's strategic location and trade agreements with the EU and African nations', He added. SN Automotive is deepening cooperation with local component suppliers and expanding its showroom and service networks nationwide, seeking to drive positive change in Egypt's automotive sector and industrial landscape. The company is focused on enhancing quality, localizing production, and delivering vehicles tailored to Egyptian customers, positioning itself as a national platform for industrial development and a key contributor to the future of mobility in Egypt and the region. ظهرت المقالة SN Automotive Appoints Yehia Abdel Halim as CEO to Lead Egypt's Car Manufacturing Transformation أولاً على المفتاح الاقتصادي.
