$20 million to produce Renault cars in Egypt

Egyptian businessmen Mohammed Nosair stated that he will produce French Renault cars in Cairo for the first time at a cost of $20 million and that the first production of these cars will take place in the first half of next year. He said Renault will be a partner in the project with a large share of the capital that is not yet determined and that the prevailing styles in Egypt will be produced, which are Renault and Megane, with a producion capacity of 600 cars annually. He added that he hopes to obtain 10% of the Egyptian market annually.