Saudi Gazette

CAIRO — The chairman of Suez Canal Authority, Mohab Mamish has recently announced 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, according to Egypt Independent Newspaper.

The subject was highlighted on the sidelines of talks in Germany during the Frankfurt International Motor Show. Both sides agreed to establish logistics distribution center in Ain Al-Sokhna as car manufacturing support in the SC Zone, said 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, according to Egypt Independent Newspaper.

At the end of year 2014, Mercedes-Benz had announced that they would stop car assembly investments in Egypt and transfer their operations to Algeria in March 2015 to take advantage of the privileges and facilities offered by the North African country to the automobile industry. — SG