Volkswagen announces car assembly in Port Said

Volkswagen Africa Group announced the signing of a new agreement with the Egyptian government headed by Dr. Mostafa Madbouly, to conduct a feasibility study to build and exploit buildings for welding car bodies and an assembly line.

The structure planned to be built to implement the car assembly agreement will be in the car manufacturing area in the East Port Said industrial zone.

Car assembly agreement activities

Martina Bini, CEO of Volkswagen Africa, confirmed Volkswagen’s interest in entering the Egyptian market.

• She visited several sites such as the East Port Said industrial zone to see the infrastructure capabilities there, in preparation for starting manufacturing operations in Egypt.
• The agreement includes the establishment of a car painting facility within the East Port Said industrial zone, specifically in the East Port Said Automotive Zone (EPAZ).

Signing the agreement with Volkswagen

On the sidelines of the activities of the first day of the Egyptian-European Joint Investment Conference in Cairo on June 29 and 30, 2024, the agreement was signed.

• After the completion of the joint feasibility study between the company and Volkswagen on November 12, 2023, the agreement was signed by a number of Egyptian officials.
• The first signatories were Mr. Walid Gamal El-Din, Chairman of the General Authority of the Suez Canal Economic Zone, Mr. Ayman Soliman, CEO of the Sovereign Fund of Egypt, Dr. Ahmed Fekry Abdel Wahab, Managing Director of East Port Said Development Company.
• In addition, the Prime Minister Dr. Mostafa Madbouly attended, along with other ministers such as Dr. Mohamed Shaker El-Markabi, Minister of Electricity and Renewable Energy, Eng. Tarek El-Molla, Minister of Petroleum and Mineral Resources, Dr. Hala El-Saeed, Minister of Planning and Economic Development, and finally Dr. Rania El-Mashat, Minister of International Cooperation. In addition to the presence of the European Commissioner for Trade, Mr. Valdis Dombrovskis.

According to Mr. Ayman Soliman, the agreement stipulates the use of highly qualified consultants to conduct the feasibility study. The scope of this study includes a comprehensive analysis of the construction feasibility of the relevant facilities, including the car body shop, buildings and the car assembly line.

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