Egypt begins manufacturing "cars plates" locally

The Ministry of Finance said in an official statement that the "Mint Authority Official Portal "has started final experiments to manufacture car plates, from Egyptian aluminum ore, to rely on the local product, instead of importing them, in order to provide hard currency.

Abdul-Raouf Al-Ahmadi, head of the Mint Authority Official Portal, said during his meeting with the chairman of "Naga Hammadi" Aluminum Complex and the Advisor to the Minister of Finance, that a preliminary feasibility study was prepared to determine the actual cost and return of the local manufacturing of the raw materials 25% to 30%.

Al-Ahmadi added that the production of the metal plate factory has been doubled to reach maximum capacity to meet the needs of citizens and various parts of the plates, and that 351 thousand metal plates were delivered to cars and 70 thousand metal plates for motorcycles.

Sherif Hazem, adviser to the Minister of Finance, said that about 600 kilos of aluminum ore were manufactured and tested in one of the specialized European factories to ensure the quality of the product and that the experiment has been successfully completed and some of the required technical observations are being completed.

Hazem added that the use of the Egyptian crude will deepen the local industrialization and provide new job opportunities, in addition to the possibility of exporting to the Arab and African region because there are no similar factories producing this industry in addition to providing the hard currency that was allocated for this purpose.

Also Al-Ahmadi pointed out that the interest of currency exchange began in the experiments of using local raw materials in the manufacture of metal discs used in the manufacture of coins starting from the iron ore, which was reached locally and through all stages of manufacturing to the final product instead of importing from abroad to enter the field of currency manufacturing Minerals to neighboring countries and provide hard currency.