PM Mahlab discusses investment plans with Nissan Motor Company officials

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Prime Minister Ibrahim Mahlab received on Thursday, Takachi Hata, Vice President of Nissan Motor Company in Africa, Middle East, India and South Asia, along with Kazutaka Nambu, Managing Director of Nissan Motor Egypt, to discuss the company’s investment plan in Egypt during the upcoming period.

The meeting was also attended by Mounir Fakhri Abdel-Nour, Egypt’s Minister of Trade and Industry.

Nissan officials presented the company’s activities and the evolution of the Nissan factory in Egypt, which started its production in 2005, stressing that the company is planning to increase investments to reach $170 million in the next few years.

The Japanese automobile manufacturer stressed the company’s intention to increase the proportion of local components in cars which are produced in Egypt.

Nissan ranks second among automotive manufacturers in Egypt, with a total production of 100,000 cars annually, and investment capital of approximately $110 million.

During the meeting, Mahlab invited Nissan Motor Company CEO to attend the International Economic Conference to be held in Egypt, next February.

On the other hand, Mounir Fakhri Abdel Nour, Minister of Trade and Industry, confirmed his readiness to study any proposals presented by the company to increase its investments in Egypt.