Bank NXT has signed a EGP 2.1 billion credit facility with Ezz Elarab Elsewedy Investments, a deal aimed at expanding the group’s automotive factories and launching a new paint plant.
Signing of the credit facility
The agreement was announced as part of Ezz Elarab Elsewedy’s broader plan to enlarge its industrial footprint, strengthen production capabilities and deepen localisation of automotive components in Egypt.
Current factory footprint
Ezz Elarab Elsewedy Automotive Factories, the manufacturing arm of the group, occupies 70,000 m² in the New Industrial Zone. Modern lines and a qualified technical team enable an annual output of 40,000 units in the first phase.
Planned capacity growth
Once the new paint plant becomes operational, the company intends to double its annual capacity each year, aiming to satisfy local demand and boost exports.
Leadership remarks
CEO Mohamed Saleh called the agreement “a strategic milestone and a long‑term partnership,” emphasizing that the expansion will deepen industrial integration and localise supply chains. CFO Ahmed Fathy highlighted the credit line as a sign of the group’s strong financial position and the banking sector’s confidence in its creditworthiness.
Bank NXT’s perspective
Deputy CEO – Business Amr Gamali said the partnership underscores the bank’s commitment to supporting private‑sector investment and economic growth, aligning with state efforts to promote sustainable development.