Chairman of Suez Canal Authority, Mohab Mamish, announced on Friday that the Suez Canal Economic Zone (SC Zone) delegation made an agreement with Mercedes-Benz company officials to resume its assembly line in the Egyptian market.
The deal was struck during the Frankfurt international Motor Show in Germany ( September 16-24), where both sides decided they would establish a center for logistics distribution and redistribution in Ain al-Sokhna, to support car manufacturing inside the SC Zone, explained Mamish.
The SC Zone applied new navigation charges, including cancelling the payment of four percent charges on containers with a depth of 354 meters; and reducing port and guidance charges up to 50 percent on freight and unloading operations.
Mercedes-Benz announced in December 2014 it would stop car assembly investments in Egypt and would transfer operations to Algeria starting March 2015, to take advantage of the privileges and facilities offered by the North African country to the automobile industry.
Edited Translation from Al-Masry Al-Youm