Egypt: Nissan gets approval to produce 100,000 export-oriented cars annually

Japan carmaker Nissan has received initial approval to produce 100,000 car units per year in Egypt, which targets car export to revive its vehicle production industry.

Nissan will manufacture the car, jointly with state-owned carmaker El Nasr Automotive Manufacturing, Minister of Public enterprise, Hesham Tawfik told media.

Majority of cars produced will be exported. Egypt looks to occupy a spot in global car exports market. El Nasr, currently on hold, used to make local version of Fiat until 2011, the year of the revolution that removed autocratic leader Hosni Mubarak.

A final deal for the production of the 100,000 cars is expected in three months. Tawfik however did not disclose the date of operations kick-start.