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Nissan, Nasr Automotive to produce 100,000 cars a year in Egypt

Nissan Motor Co. Ltd. teamed up with Egypt's state-owned El Nasr Automotive Manufacturing to make 100,000 cars a year in Egypt, Reuters reported March 19, citing the Minister of Public Enterprises Hesham Tawfik.

Both companies have reportedly signed an initial agreement for the production, and the final contract is expected to be signed within three months.

The partnership aims to increase the proportion of locally made auto components in cars assembled in Egypt, Tawfik told Reuters, adding that a majority of the assembled vehicles are expected to be exported.