Arab Finance: Croatian electrical, transport, and energy firm Koncar is considering establishing a factory for the production of electric vehicle (EV) chargers in the Egyptian market, the cabinet stated on February 19^th.

This came during a meeting headed by Prime Minister Mostafa Madbouly with representatives from Croatian Koncar and Saudi Arabian Al-Massa Group to discuss opportunities for manufacturing components for various electrical projects in the country.

Koncar's proposal was welcomed by the Minister of Electricity Mohamed Shaker as part of the state's drive to localize the environmentally friendly car industry.

Madbouly indicated that the electricity sector has witnessed a great boom over the past eight years, as the country succeeded in manufacturing the components required for electrical projects by up to 75%.

The Chairman of Al-Masaa Group said that his firm studied the Egyptian market, and is ready to start manufacturing the components required by the electrical projects, whether it is related to station components or infrastructure components required for electricity distribution.

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