Yes, yes, we know you want to resurrect El Nasr Auto Manufacturing. Frankenstein, too, wants a jolt of electricity…
The Egyptian Union of Investors Association appears to be backing the automotive directive. That’s the takeaway from a piece in Al Mal that says the EUIA suggests inviting international car manufacturers to produce cars domestically at a target capacity of 1 mn cars per year through a set of incentives including infrastructure-ready land plots and 10-year tax exemptions among others, head of the Egyptian Auto Feeders Association Alaa Tawfik said. The suggested location for the project is in the industrial zone at East Port Said, he added. Meanwhile, the head of the Holding Company for Metallurgical Industries (HCMI) has ordered a study into relaunching the defunct state-owned El Nasr Automotive Manufacturing Company, following a decision by the HCMI to halt the liquidation of the firm, Youm7 reported. No, the dream of bringing El-Nasr back will never (ever) die for certain type of Nasserite … er, bureaucrat.