Egypt to locally manufacture car metal plates
CAIRO, August 19, 2018 (MENA) - The Egyptian Mint Authority is working on a project to locally manufacture metal plates for vehicles to replace imported equivalents and save hard currency.
The project will also help create new jobs for youth, the Finance Ministry said in a statement Sunday.
Emerging from a meeting with chairman of the Mint Authority Abdel Raouf el Ahmedi, an advisor to the finance minister said that about 600 kilograms of aluminium have already been manufactured and tested at European factories to guarantee high quality.
The experiment was successful and the Mint Authority is currently working on some technical points, said Sherif Hazem.
The project will allow the export of these plates to the Arab world and Africa, Hazem added.
An initial feasibility study has already been conducted, said Ahmedi, noting that it shows the cost of and expected revenues from the project.
The local manufacturing of plates is expected to help save between 25 to 30 per cent of expenses, Ahmedi explained.