Indian auto, plastics firms meet with SCZone boss Gamal El Din in Mumbai

Indian auto, chemicals firms want to invest in the SCZone: Indian automotive and adhesive companies expressed their interest in investing in the Suez Canal Economic Zone’s (SCZone) East Port Said industrial zone during meetings with SCZone boss Walid Gamal El Din in Mumbai, Gamal El Din said in a statement yesterday.

REMEMBER- Indian energy, industrial, and construction companies last week expressed interest in setting up projects here during meetings with SCZone representatives in New Delhi as part of the SCZone’s roadshow to India, which wrapped up in Mumbai yesterday.

#1- Bajaj Auto to produce motorbikes in SCZone: Motorcycle and three-wheeler maker Bajaj Auto wants to establish a vehicle factory in the SCZone’s East Port Said industrial zone for easy access to export markets across Africa and the MENA region. The statement didn’t include a projected investment cost.

#2- EV talks ongoing with Ashok Leyland: Gamal El Din discussed with Hinduja Group Ashok Leyland plans to locally manufacture EVs after the company last month visited the East Port Said industrial zone, the statement read. The Public Enterprise Ministry last month said the Indian firm could partner with state-owned EL Nasr Automotive to form a joint venture for locally-made EVs. The government has been searching for a replacement partner since talks with Chinese firm Dongfeng fell through in 2021.

#3- TVS Motor eying EVs here? TVS Motor Company told Gamal El Din it’s interested in manufacturing eco-friendly vehicles, without discussing any specific plans to set up a project here.