Arab Finance: Banque Misr signed a medium-term credit facility worth EGP 2.7 billion with MAC for Mobility Manufacturing, a subsidiary of Mansour Automotive, to finance the construction of a new car assembly plant, according to a press release.

The project will be developed in New 6th of October City, near the October Dry Port, on an area of approximately 126,000 square meters. It is designed as an integrated industrial complex for assembling multiple vehicle categories, including sedans, sport utility vehicles, and minibuses.

The facility will incorporate flexible infrastructure and advanced technologies to support the manufacturing and assembly of both internal combustion and new energy vehicles, in line with the global shift toward more sustainable transportation.

In its first phase, the factory is expected to reach a maximum production capacity of around 50,000 vehicles annually. Construction is scheduled for completion in 2026, with operations set to begin in the first quarter (Q1) of 2027.

The total investment cost of the project stands at $150 million. This project is expected to create about 10,000 direct and indirect jobs.

‎Banque Misr is keen to play its vital role in supporting all activities that help advance development, to enhance the excellence of its services, maintain its long-term success, and participate effectively in services that meet the needs of its customers.