Deputy Prime Minister and Minister of Industry and Transport, Kamel Al-Wazir, inaugurated a new EGP 3bn electric bus production line at the MCV complex in New Salhia, Sharqeya. The project, established in partnership with Volvo Buses, has an annual production capacity of 1,200 electric buses, all intended for export to European markets. It is expected to create over 2,000 new jobs and marks a significant step toward green industrial development and export-oriented manufacturing in Egypt. Al-Wazir highlighted that the initiative aligns with the government's goal of doubling industrial exports to $170bn by 2030 while promoting electric mobility and the growth of local component manufacturing. The production line employs automated, high-standard global systems and represents a fully integrated model of advanced, environmentally friendly manufacturing. During his visit, the minister toured the site, inspected buses ready for export to Britain and Europe, and called for further support of local automotive glass production and faster licensing for minibuses. He noted that Egypt's transport manufacturing sector now produces between 2,000 and 2,500 buses annually, reducing reliance on imports. Al-Wazir also clarified that while current factories in urban areas will remain operational, new licenses will not be issued for facilities in residential or agricultural zones, in line with sustainable urban planning goals. He emphasized government efforts to support industry through initiatives including a working capital program with subsidized interest rates that has injected over EGP 150bn, a EGP 30bn fund to finance new production lines and machinery, and a new collaboration with the Central Bank of Egypt to restructure and reopen stalled factories. This project represents a milestone in Egypt's transition toward a sustainable transport ecosystem and stronger industrial self-sufficiency.
