Business news

MINSK, 18 February (BelTA) – The Belarusian-Egyptian MAZ production plant has been opened in Cairo, BelTA learned from the website of the Minsk Automobile Plant (MAZ).

MAZ partnered with Helwan Machinery and Equipment of the National Organization for Military Production of Egypt and International Co. for Industry and Projects.

The joint plant will produce 500 vehicles a year, with the opportunity to increase the capacity. There are plans to gradually increase the localization of the joint production up to 40% to supply products to the markets of the neighboring countries.

MAZ and Helwan Machinery and Equipment signed a contact on the delivery of vehicle sets for joint production worth of $5 million. A part of vehicle sets were contracted by Egyptian companies.

Egypt also shows interest in the joint production of MAZ utilities, emergencies and special-purpose equipment.