Egypt's government decided to halt the liquidation process of state-owned Nasr Car Manufacturing Company and plans to re-operate the firm, state-run news agency MENA reported Sunday.
Nasr stopped production in 2009.
The military production ministry is planning to operate the car manufacturing company after its financial position is revised, minister Reda Hafez said on Sunday after a visit to the plant..
"The resumption of production at Nasr factory will definitely boost Egypt's industry and will be vital to its economy," explained Hafez. (Ahram Online)