CAIRO — Bank NXT has extended an EGP 2.1 billion credit facility to Ezz Elarab Elsewedy Investments to finance factory expansion and a new automotive paint plant, deepening the group’s localisation drive as it pursues manufacturing capacity of more than 80,000 vehicles annually.
The financing covers investment at Ezz Elarab Elsewedy Automotive Factories in Sixth of October City, where the group is expanding beyond vehicle assembly into more capital-intensive production stages.
The complex has been cited as having capacity of up to 40,000 vehicles a year, while Ezz Elarab Elsewedy’s wider expansion programme targets aggregate capacity exceeding 80,000 units annually. The Bank NXT facility finances part of that broader industrial build-out rather than the entire capacity programme.
Paint Plant Raises Local Value
The new paint plant is the more strategically important element of the transaction.
Adding painting operations locally can increase domestic value added, reduce dependence on externally processed inputs and give the manufacturer greater control over production costs, quality and delivery schedules.
The investment therefore moves the operation further beyond basic assembly and towards a more integrated manufacturing model — a central objective of Egypt’s automotive industrial strategy.
Ezz Elarab Elsewedy already produces the Proton Saga locally after launching Egyptian assembly in 2025 at a facility Proton said represented about USD 50 million of investment.
The group has since broadened its manufacturing ambitions through a partnership with China’s ROX Motor, with plans to manufacture new-energy vehicles in Egypt and develop exports to Gulf and African markets.
Banking Capital Moves Into Manufacturing
The transaction comes as Egypt seeks to increase domestic automotive content, achieve greater production scale and build an export-oriented vehicle industry capable of reducing dependence on imports.
Government automotive policy links incentives to investment, production volumes, localisation, environmental performance and exports, with local value added targeted at as much as 60% under the national programme.
For Bank NXT, the transaction represents a sizeable deployment of corporate credit following the strengthening of its capital base. The bank completed an EGP 4.2 billion capital increase in 2025, raising paid-in capital to EGP 9.9 billion.
The significance of the EGP 2.1 billion facility therefore extends beyond balance-sheet financing. It directs banking capital into the factories, production stages and industrial infrastructure required to turn automotive assembly into deeper Egyptian manufacturing — and eventually a larger export business.
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