Egypt's Minister of Military Production Mohamed El-Assar (C) meets on Wednesday with Chinese officials from automaker Foton Motor and the China-Africa Development Fund (CADFund) (Photo: Ahram)
Egypt's Minister of Military Production Mohamed El-Assar met on Wednesday with Chinese officials from automaker Foton Motor and the China-Africa Development Fund (CADFund), which supports and executes many development and infrastructure projects in several fields.
Technological, manufacturing, technical, and human capabilities in companies affiliated with the Ministry of Military Production were reviewed and the ministry expressed its interest in enhancing cooperation between its subsidiary corporations and Chinese companies in many fields, accordingto Ahram Arabic news website.
This meeting comes as a follow up to President Abdel-Fattah El-Sisi's visit to China last April, during which the Ministry of Military Production and Foton signed an agreement whereby the Chinese car maker would deliver 50 electric buses to Egypt later this year, as well as a memorandum of understanding to produce 2,000 buses over four years at Egypt's Military Factory 200, with a domestic component target rate of 45 percent.
These agreements were signed as part of the governmet's plan to indigenise the technology of manufacturing electric vehicles.
During the meeting with Minister El-Assar, the Foton officials said that they are confident that Egypt has the capabilities to ensure the success of the project.
Egypt's military production ministry's factories are distinguished for their high technological capabilities and their highly trained employees, which will help in indigenising electric vehicle technology in Egypt, the Foton officials said.
The Chinese company also says that they are making use of Egypt's strategic location as a main gateway to Arab and African markets.