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Sunday, 16 September 2018

Russian car makers interested in El Nasr Automotive

Russian car makers are interested in partnering up with the Egyptian government to restart operations at El Nasr Automotive, Moscow’s trade representative in Cairo Nikolai Aslanov said, according to Ahram Gate. This came despite statements from Public Enterprises Minister Hisham Tawfik that the government had no intention of giving ownership stake to foreign investors in El Nasr but was looking to sign a development agreement. He did not elaborate. The government has been in on-again-off-again talks with various foreign companies in the last few years in hopes of resurrecting the defunct Nasser-era car manufacturer. The company signed a partnership agreement with Romanian tractor manufacturer Tractorul UTB S.A. Universal on Saturday to begin producing Romanian U650 tractors, company chairman Atef El Qelini told Al Ahram.

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