Volkswagen to Provide Technical Assistance to Egypt in East Port Said Automotive Zone ...Egypt

Photo credit: Egyptian Cabinet’s Facebook page The Suez Canal Economic Zone (SCZONE), the Sovereign Fund of Egypt (TSFE), and the East Port Said Development Company (EPSD) signed an agreement with Volkswagen on 12 November to conduct a feasibility study for the East Port Said Automotive Zone (EPAZ). Under this agreement, Volkswagen will offer technical assistance to the Egyptian parties involved as they work together to create a feasibility study for the EPAZ. EPAZ is a complex that will be established at the industrial zone in East Port Said to locally manufacture vehicles. It is expected to attract USD 240 million (EGP 7.4 billion) worth of investment and more than 6,000 job opportunities.

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