(MENAFN- Daily News Egypt) Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, laid the foundation stone for the MAC transport vehicles factory, a new project by Mansour Automotive Group, in 6th of October City, West Cairo.

Al-Wazir said the project aligns with Egypt's vision to deepen local manufacturing, enhance value-added production, and expand the national industrial base through partnerships between the government, private sector, and both local and international investors.

With an investment exceeding $150 million, Mansour Group is establishing a state-of-the-art facility to produce 50,000 eco-friendly vehicles in its first phase. According to Sir Mohamed Mansour, Chairperson of Mansour Group, the project will transfer advanced technologies and create between 6,000 and 10,000 direct and indirect jobs for Egyptians.

Al-Wazir noted that Egypt's Automotive Industry Development Strategy seeks to build an integrated automotive sector - from component manufacturing to vehicle assembly and local production of electric and hybrid vehicles - in line with global trends toward green and sustainable transport.

He added that under the National Automotive Industry Development Program, the government aims to raise each company's production capacity to around 100,000 vehicles annually by 2032, including 7,000 electric vehicles. The program also targets increasing the local components ratio to over 35% and domestic value-added to about 60%.

Al-Wazir explained that the program is supported by a comprehensive incentive framework linked to industrial, environmental, and investment performance. These incentives are designed to promote local value addition, expand production volumes, encourage new investments, meet environmental standards, and develop key industrial zones.

“These objectives reflect the state's strong commitment to establishing a competitive national automotive industry capable of regional and global leadership,” Al-Wazir said.“They also open new opportunities for the private sector to play a leading role in Egypt's industrial transformation.”

The minister described the MAC factory as the nucleus of a future automotive manufacturing city, strategically located near major highways connecting the 6th of October industrial zone. He emphasized that this project marks the first tangible milestone in implementing Egypt's new automotive strategy.

Al-Wazir added that the Ministries of Industry and Transport are working to attract more investors by developing a robust legislative and incentive framework, and by forging partnerships with leading global and local manufacturers to localize production, transfer technology, and build Egyptian technical expertise.

He also highlighted ongoing efforts to develop specialized industrial zones and modern logistics infrastructure to support new projects and expand existing facilities.

“Egypt aims to become a regional hub for the automotive industry in Africa and the Middle East,” he said, citing the country's strategic location and advanced transport networks of roads and ports.

In conclusion, Al-Wazir expressed his appreciation to Mansour Group for its confidence in the Egyptian economy.“Laying this foundation stone marks the beginning of a broader industrial journey - one that strengthens Egypt's position as a modern manufacturing nation built on technology, innovation, and public–private partnership,” he affirmed.

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