Egyptian automotives maker Ghabbour Auto Group (GB Auto) intends to injects new investments worth 2.5 billion Egyptian pounds (US$281 million) into the local market within the coming period.
Chairman Raouf Ghabbour stated that the new investments would be dedicated for establishing two new factories; one for manufacturing motorcycles and Tuk Tuks (auto rickshaws) while the second is for auto tires.
The new factories are set to be built in northwest Gulf of Suez, the chairman noted.
The motorcycle factory would be built on total space of 300,000 meters and expected to operate with the capacity of around 120,000 tuktuks and 120,000 motorcycles annually.
About the tire factory, Ghabbour clarified that the group is currently making technical studies necessary to start establishing it within the coming period.
Chairman Ghabbour emphasised that the group keens on investing in the Egyptian markets besides providing latest automotives models for consumers.