East Port Said Development is honored to be entrusted with the technical coordination and alignment within the framework of the signed strategic cooperation viability study agreement on ‘Jointly Studying Establishment of East Port Said Automotive Zone (EPAZ).’ The signing ceremony was witnessed by H.E. the Prime Minister, Dr. Mostafa Madbouly, and H.E. Dr. Hala EL-Said, Minister of Planning and Economic Development. The agreement involved Mr. Waleid Gamal El-Dien, the Chairman of the SCZONE, Mr. Ayman Soliman, the CEO of the Sovereign Fund of Egypt, Dr. Ahmed Fikry Abdel Wahab, the Managing Director of East Port Said Development, and Ms. Martina Biene, the Chairperson and Managing Director of Volkswagen Africa Group.

During the Prime Minister’s meeting with representatives from Volkswagen Africa in the presence of Egyptian government officials, and Eng. Karim Sami Saad, the Chairman of East Port Said Development, the EPAZ project was outlined. It aims to attract 2 to 4 original equipment manufacturers (OEMs). The participating OEMs will share Common Production Divisions, with Painting as the first phase and Stamping as the second phase. EPAZ will be designed for a capacity of 150k to 250K units annually, with an initial capacity of 75K Units.

H.E. the Prime Minister emphasized the significance of the agreement in fostering collaboration between the Egyptian government and Volkswagen Africa, expressing an interest in initiating the project at the earliest timeframe.