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Egyptian billionaire Mohamed Mansour has taken another step to expand his industrial footprint, breaking ground on a new $150 million transport vehicle factory in 6th of October City, west of Cairo. The event drew top government officials, including Egypt’s Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, who joined Mansour to lay the foundation stone for the project.
Egypt factory to build 50,000 eco cars
The new MAC Transport Vehicles factory, developed by Mansour Automotive Group, is set to produce 50,000 eco-friendly vehicles in its first phase. Mansour said the facility will not only advance Egypt’s push toward sustainable mobility but also generate between 6,000 and 10,000 direct and indirect jobs. “We want this project to be a symbol of industrial progress and innovation in Egypt,” Mansour said during the ceremony.
Minister Al-Wazir described the project as a key milestone in Egypt’s efforts to strengthen its automotive sector. He said it aligns with the government’s plan to expand local manufacturing, build export capacity, and reduce reliance on imports. The factory’s location near major highways and logistics corridors will also help boost production efficiency and attract more industrial investment, he added.
Mansour Group strengthens $6 billion auto reach
According to Al-Wazir, the Ministries of Industry and Transport are working closely with the private sector to attract global manufacturers, encourage technology transfer, and build Egyptian technical expertise. “Our goal is clear: Egypt should become a leading center for vehicle manufacturing in Africa and the Middle East,” he said, highlighting the country’s strategic position, growing transport network, and modernized ports.
This consolidates Mansour Group’s presence in the automotive and heavy equipment sectors. With a valuation exceeding $6 billion, the group is the exclusive distributor of Caterpillar machinery in Egypt and seven other African countries. Over the years, Mansour has built a business empire that spans automotive, logistics, consumer goods and financial services, with operations stretching across Africa, the Middle East and Europe.
Mansour’s fortune rises with global bets
Mansour’s wealth has also continued to rise. According to Forbes, his net worth has grown from $3.3 billion at the start of the year to $3.4 billion, placing him among Africa’s ten richest individuals and Egypt’s third-richest person. His family-owned group operates more than 125 outlets across the region, representing global brands such as General Motors and McDonald’s.
In recent years Mansour has broadened his focus beyond traditional industries. Through his London-based investment firm, Man Capital, he has taken stakes in companies such as Airbnb and Spotify and backed P1 Ventures’ $50 million institutional fund aimed at supporting startups in artificial intelligence, fintech, and enterprise software.
