A new bus assembly plant, co-built by two companies, Chinese and Saudi, has started production in Egypt’s new city of Suez, and the first buses produced by this plant are expected to roll off the assembly lines soon.
Speaking at a delayed inauguration ceremony held in the city on Tuesday, Hamed Al Mutabagani, chairman of the Saudi company ATM Misr, said the plant was designed with an annual production capacity of 500 buses.
The plant covers an area of 164,000 square meters and is equipped with advanced assembly lines, warehousing, and quality control facilities, added Al Mutabagani, whose company co-built the plant with Chinese bus manufacturer King Long.
ATM Misr invested one billion Egyptian pounds (about US$3.3 million) in the construction of this plant, while King Long provided technology and equipment for complete vehicles.
The plant will supply 51 finished buses to Saudi distributor National Trade Company, 26 of which will use King Long’s auto parts, according to a cooperation agreement.
About 60% of the production uses locally made components, with the aim of contributing to the development of the automotive industry in Egypt, he said, adding that the Gulf countries are target markets.
We hope the plant will take advantage of its location near three major ports to reach African and European markets, he observed.
Source: Xinhua News Agency