CAIRO – Chairman of the Arab Organisation for Industrialisation (AOI) Abdel Moneim el-Terras on Thursday signed a co-operation protocol with El-Masreen Investment Group and the UAE company (Barq EV) to localise the manufacturing of electric vehicles in Egypt.
Under the protocol, which comes as part of Egypt’s strategy for green transformation, the three parties would co-operate in providing eco-friendly smart transport system and making light and heavy electric bikes for the Arab and African markets, as well as qualifying human cadres.
Tarras said the agreement is aimed at introducing a smart operation system for electric bikes in the Red Sea resort city of Sharm El-Sheikh, the New Administrative Capital and new urban cities.
The AOI head asserted the importance of pumping new investments in the manufacturing of electric bikes and enhancing the competence of workers involved in such industry.
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