Chinese, Saudi companies open bus assembly plant in Egypt

STORY: Chinese, Saudi companies open bus assembly plant in Egypt DATELINE: March 3, 2023 LENGTH: 00:01:17 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of the inauguration ceremony of a new bus assembly plant 2. various of employees working at the bus assembly plant 3. various of buses at the bus assembly plant STORYLINE: A new bus assembly plant co-built by Chinese and Saudi firms has started production in New Suez City, Egypt, with the first batch of transport buses expected to roll off the assembly line soon. Speaking at a belated inauguration ceremony held in the city on Tuesday, Hamed Al Mutabagani, chairman of Saudi company ATM Misr, said the factory was designed with an annual production capacity of 500 buses. The plant covers an area of 164,000 square meters and is equipped with advanced production lines, warehouses, and quality-control facilities, added Al Mutabagani, whose company co-built the factory with Chinese bus maker King Long. ATM Misr invested one billion Egyptian pounds (abo