Bavaria Auto Trading, Egypt's BMW Group representative, will invest approximately $60 million in a new assembly plant to be located on the outskirts of Cairo. Production of 3-series and 5-series cars will commence by the second half of 2003, reported Al-Alam El-Youm .
The factory will be built in the 6th of October City and will have an annual production capacity of 4,000 cars. Some 1,500 to 1,800 cars will be assembled in the first 12 months of operations. Output will be marketed in Egypt and Common Market for East and Southern Africa (Comesa) states.
Bavarian Auto Trading was awarded the exclusive rights for assembly, importation, distribution and after-sales support for BMW Group products in Egypt this past March. The German car manufacturer failed to renew its license with former representative Hossam Abul-Fotouh over financial irregularities. The new group consists of a consortium of Egyptian, Gulf and German investors. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
