Ezz Elarab Swedy secures 2.1 billion EGP for automotive expansion

Ezz Elarab Swedy Investment Group (ESI) has signed a 2.1 billion Egyptian pound credit facility agreement with Bank Next. The funding is designated to support the group’s industrial expansion, specifically for investments in its automotive factories and the construction of a new automotive paint plant.

The new paint factory is part of a strategic plan to localize supply chains, increase local component ratios, and meet domestic market needs. ESI’s automotive manufacturing facilities are located on a 70,000 square meter site in the new industrial zone of 6th of October City, with a first-phase production target of 40,000 units annually.

Mohamed Saleh, CEO of ESI, stated that the partnership represents a strategic milestone aimed at supporting national industry and achieving deeper industrial integration. Ahmed Fathy, Chief Financial Officer of ESI, noted that the facility provides the financial flexibility required to fund upcoming expansion phases while maintaining sustainable growth.