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FINANCIAL NEWS
Egypt’s GB Auto to invest USD1.5b in new factories
05 May 2015
(MENAFN) Egypt’s GB Auto is ready to invest a total of USD1.5 billion in new factories as a part of its expansion plans amidst a little bit shaky confidence in the country’s political solidity, Reuters reported.
GB Auto is considered Egypt’s one and only provider of Hyundai, Mazda and Geely cars in addition to the infamous three-wheel tuk-tuks and Indian motorbikes.
The auto assembler and distributor is presently mulling over a procedure in which the government taxes, on imported cars from the United States and Asia, are to be lowered as a precautional move that an upcoming free trade agreement would distort competition.
More News
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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