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Egypt Today
21-05-2025
- Automotive
- Egypt Today
Egypt Accelerates Auto Industry Growth with $123M Jetour-El-Kasrawy Manufacturing Deal
CAIRO - 21 May 2025: Prime Minister Mostafa Madbouly attended the signing of a strategic agreement between international car manufacturer Jetour and Egypt's El-Kasrawy Group at the Cabinet headquarters in the New Administrative Capital. The partnership, valued at $123 million, aims to boost local manufacturing and assembly of the Jetour T1 and T2 vehicle models. Madbouly highlighted the importance of the agreement, describing it as a key milestone in Egypt's broader vision to localize automobile production. He noted that this deal is part of a series of recent agreements that underscore the effectiveness of Egypt's automotive development strategy, which continues to attract global players through competitive incentives. Chairman Mohamed El-Kasrawy confirmed that the agreement will deepen the ongoing collaboration between his group and Jetour. Beyond local assembly, both sides plan to export Jetour vehicles to several international markets, expanding Egypt's footprint in the global auto industry. As part of the agreement, a new manufacturing plant will be established in the industrial zone of 6th of October City. Spanning 86,000 square meters, the facility will house three production lines—for welding, painting, and final assembly—and will create approximately 1,500 jobs. It will serve both domestic demand and export operations. During the ceremony, El-Kasrawy also introduced the X70 Plus, the first locally assembled model under the partnership, with an annual production target of 5,000 units. Prime Minister Madbouly viewed the prototype before the official signing.
Egypt Independent
21-05-2025
- Automotive
- Egypt Independent
PM: Egypt eyes greater coop. with China to localize EV manufacturing
CAIRO, May 20 (MENA) – The Egyptian state attaches great importance to localizing the electric vehicle manufacturing, and is looking forward to cooperating with China on such an important file, especially in light of China's position as an EV market leader, Prime Minister Mostafa Madbouly said. Madbouly made the remarks during a meeting with Dai Lihong, president of Jetour Global, a Chinese sport-utility vehicle maker, in the presence of Minister of Industry and Transport Kamel el Wazir, Chairman of Egypt's Kasrawy Group, the exclusive local agent for Jetour, Mohamed el Kasrawy, and a great host of senior government officials and representatives of the Egyptian and Chinese companies. The auto industry is a top priority under the state's vision for industrial growth, the prime minister said, citing the enactment of a special law to stimulate the localization of vehicle manufacturing, especially electric cars. He noted that under an agreement signed today between Kasrawy Group and the Chinese company, the new car models of Jetour T1 and T2 will be assembled locally for the first time. The government is now focusing on increasing local component ratio in assembling the new Jetour models, and any other future models, the premier said. President Abdel Fattah al-Sisi pays great importance to the localization of electric vehicle manufacturing, the prime minister added, citing presidential directives that any investor wishing to establish an electric vehicle plant in Egypt will be given a government guarantee to buy a certain share of the production for five years. Meanwhile, Jetour Global chief said the $123 million agreement signed today for establishing an assembly facility in Egypt will be implemented over three phases, noting that the first phase targets 45 per cent of local component, which will be increased to 55 per cent and 60 per cent during the second and third phases, respectively. Earlier today, Egypt's Kasrawy Group signed a $123 million agreement with Chinese automaker Jetour to locally assemble Jetour T1 and T2 cars. the deal was signed at the Cabinet headquarters in the New Administrative Capital. (MENA)
See - Sada Elbalad
21-05-2025
- Automotive
- See - Sada Elbalad
PM Witnesses Signing of $123M Deal to Locally Assemble Jetour Vehicles
Ahmed Emam Egypt's Prime Minister Mostafa Madbouly witnessed on Wednesday the signing ceremony of an agreement between global automaker Jetour and El-Kasrawy Group to enhance cooperation in manufacturing and assembling Jetour T1 and T2 models in Egypt, with total investments estimated at $123 million. The event featured appearances by the Vice Prime Minister for Industrial Development, Minister of Industry and Transport, Engineer Kamel El-Wazir. The agreement was inked by Dai Lihong, President of Jetour Auto, and Mohamed El-Kasrawy, Chairman of El-Kasrawy Group. In his remarks, Madbouly said that this agreement represents a significant and new addition to Egypt's efforts to localize the automotive industry, under which two new models from a global company will be manufactured and assembled in the Egyptian market. He noted that this agreement follows a series of similar deals signed in recent months, reaffirming that Egypt's automotive development strategy offers attractive incentives for international car manufacturers. In turn, El-Kasrawy noted that the signed agreement builds on the current partnership between El-Kasrawy Group and Jetour, with both parties agreeing to assemble the T1 and T2 models, and to expand cooperation in exporting Jetour vehicles from Egypt to several markets. He explained that both sides agreed to establish a new factory with three production lines—for welding, painting, and final assembly—at an investment cost of $123 million. The factory will be built on an area of 86,000 square meters in the industrial zone of 6th of October City. It will serve the local market, while part of the production will be allocated for export. The facility is expected to create approximately 1,500 job opportunities. El-Kasrawy also revealed the launch of the locally assembled X70 Plus model, with an annual production capacity of 5,000 units. Prime Minister Dr. Mostafa Madbouly checked out a prototype of the vehicle prior to the signing of the agreement. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies
Middle East
20-05-2025
- Automotive
- Middle East
OPEN// PM witnesses signing of $123 mln agreement to manufacture Jetour vehicles in Egypt
CAIRO, May 20 (MENA) - Prime Minister Mostafa Madbouly attended Tuesday the official signing ceremony of an industrial agreement between the global automotive company Jetour and the Egyptian-based El-Kasrawy Group, aiming to manufacture and assemble Jetour T1 and T2 vehicle models in Egypt. The $123 million investment project deal was signed between the Chinese company and El-Kasrawy Automotive Group at the government headquarters in the New Administrative Capital and the ceremony was attended by Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel el-Wazir. Madbouly said that the agreement represents a significant addition to Egypt's ongoing efforts to localize the automotive industry. He noted that it will lead to the domestic production and assembly of two new models from an international carmaker, reinforcing Egypt's position as a growing hub for automotive manufacturing. The premier added that this step follows a series of similar agreements signed in recent months, reflecting the success of Egypt's national strategy to develop its automotive sector. He highlighted that this strategy is supported by a range of incentives aimed at attracting global car manufacturers to invest in the Egyptian market. Board Chairman of El-Kasrawy Automotive Group Mohamed El-Kasrawy emphasized that the agreement builds upon the existing partnership with Jetour. The two sides agreed to manufacture and assemble the Jetour T1 and T2 models, and to strengthen cooperation in exporting Jetour vehicles from Egypt to various international markets. As part of the agreement, a new factory will be established in the 6th of October City industrial zone, covering an area of 86,000 square meters. The facility will feature three production lines for welding, painting, and final assembly. With an investment of $123 million, the plant is expected to supply the domestic market and allocate a portion of its output for export. It is also set to create approximately 1,500 job opportunities. In conjunction with the signing, the locally assembled Jetour X70 Plus was officially launched, with an expected annual production volume of 5,000 units. Prime Minister Madbouly viewed a prototype of the vehicle prior to the signing ceremony. (MENA) R E E/
The Herald Scotland
29-04-2025
- Entertainment
- The Herald Scotland
Irvine Welsh on Trainspotting 3: 'A new cast is the answer'
The author was in full voice at the recent Paisley Book Festival where he opened up about everything from social media and artificial intelligence (AI) to his mooted disco album and the BBC's disastrous decision to can River City. On Trainspotting, he was particularly interesting: it's not like an author to do down a potential film adaptation of a novel which hasn't even been published yet, but he has cast doubt in the viability of a third Trainspotting film featuring the same cast as the first two, the 1996 original and T2, which caught up with the characters in the late 2010s. (Image: Iona Shepherd) That's because Men In Love, the latest in what's increasingly looking like a twisted sort of Marvel Universe franchise, is set in the late 1980s and follows on closely from the original novel. So you can see the problem. Or, if you can't, Mr Welsh can see it for you: the original actors, among them Ewan McGregor, Robert Carlyle, Ewen Bremner and Jonny Lee Miller, will be too old for this gig. It's a common problem in movie-land as Mr McGregor knows all too well, having stepped into the Jedi sandals of Alec Guinness to play Obi-Wan Kenobi in the Star Wars prequels. Later instalments in the franchise did feature cameos from Mark Hamill and Harrison Ford, stars of the original films, but they were playing their characters as older men. In a similar vein, Ford also reprised his role as Rick Deckard in 2017 Blade Runner sequel Blade Runner 2049. McGregor, Carlyle, Bremner and Co. could be de-aged using AI but Mr Welsh is against that too. I can't imagine the actors would be happy about it, either. No, the author thinks, better to let somebody else have a go. Choose from Scotland's deep and rich pool of younger actors. All of which leaves a question waiting to be asked and another Trainspotting-related headline waiting to be written – which of the new school does Mr Welsh think best able to fill the shoes of Renton, Begbie, Sick Boy and Spud? For that, we may have to wait until the next book festival. Men In Love is published on July 24. Prize exhibits The five finalists for the Museum of the Year award have just been announced and nestled among them is Perth Museum, which opened in March 2024 following a £27 million development of the former Perth City Hall. Here you'll find the Stone of Destiny among other attractions in a venue whose mission is to tell the story of 10,000 years of Scottish and world history. If you know your Scone from your carrot cake you'll know that Perth and Kinross is often right at the heart of that story. To give a flavour of the place, a new exhibition exploring the history and legacy of Macbeth has just opened there and runs until the end of August. Overseen by the Art Fund, the UK's national charity for museums and galleries, the annual award is the world's largest prize for museums and will deliver a cool £120,000 cheque into the hands of the winner when the recipient is announced at a ceremony in Liverpool on June 26. Also on the shortlist are Belfast's Golden Thread Gallery, the leading contemporary art gallery in Northern Ireland; County Durham's open air attraction The Living Museum Of The North; the well-established Chapter arts centre in Cardiff; and Compton Verney in Warwickshire, an art gallery housed in a Grade I-listed 18th century mansion with 120 acres of Capability Brown-designed parkland. 'This year's finalists are inspiring examples of museums at their best – deeply connected to their local communities, responsive to the world around them, and alive with energy and ideas,' said Art Fund director Jenny Waldman. 'Each one offers a distinctive experience, showing the endless creativity and care that goes into making museums inspiring and exciting spaces for everyone.' And finally Perth Theatre's much-anticipated stage adaptation of cult 1980s film Restless Natives has finally reached opening night so The Herald's theatre critic Neil Cooper was duly dispatched to the Fair City to run his eye over it. This stage version is now a musical with songs by Tim Sutton and choreography by Chris Stuart Wilson, but it has been created and mounted by the trio responsible for the original film – director Michael Hoffman, producer Andy Paterson and writer Ninian Dunnett, who has also written the song lyrics. 'The whimsy is still intact, but there is a whole lot more going on besides as the trio reposition their film as a feel-good musical with a higher purpose,' Neil writes. And of course the Big Country soundtrack has not been neglected, with the four-piece live band opening proceedings with a rousing, sing-a-long rendition of the band's anthemic 1983 hit In A Big Country. Neil also visited Dundee Rep to take in Doubt: A Parable, a revival of John Patrick Shanley's 2004 play set in a Catholic school in New York's Bronx district in 1964. Plots are hatched, personalities clash and ideologies tested in an intense production from the Tron Theatre's Associate Director Joanna Bowman. Elsewhere dance critic Mary Brennan watched Bodies Of Water in Cumbernauld Theatre's Lanternhouse space, performed by Aya Kobayashi and Simone Kenyon of the touring Bow Collective and functioning as a meditation on the stuff which falls from the sky and pours out of our taps. Finally, music critic Keith Bruce was at Glasgow Royal Concert Hall for a performance by the Royal Scottish National Orchestra of works by Mozart, Beethoven and 20th century Austrian composer, Alban Berg. An odd programme on paper, but under the baton of Principal Guest Conductor Patrick Hahn it came together. Keith was also at the City Halls in Glasgow to hear the BBC Scottish Symphony Orchestra perform a varied programme which included Mozart's piano concerto No. 17 under the baton of Anja Bihlmaier, Principal Guest Conductor of the BBC Philharmonic in Manchester.
