According to ksaToday newspaper (February 28, 2002), a group of Egyptian and Arab business associates have agreed to establish a new company to manufacture the first Arab-made car with a one billion Egyptian Pound ($215 million) capital. Member of the Egyptian Car Trading Authority, Ahmed Abdul-Rahman, said that the new enterprise will initially produce automobiles for consumption in the Arab World and for export purposes at a later date. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
