Tata Motors might setup a auto plant in Egypt

News media group Business Standard has said in a report that the Indian automaker Tata Motors is considering setting up an auto manufacturing unit in Egypt.

The report said that the company has held talks with a delegation from Egypt. This delegation is in India to discuss investment and tourism promotion deals.

Nagui Erian, a member of the delegation was quoted as saying: “Besides the car business, the Tata (group) has also evinced interest in making investments in petroleum and gas in Egypt.”

Tata Motors has officially declined to comment on this rumor in the market. The company is already in a deal with Italian auto group Fiat and they are making together cars and engines in the Indian market. The two companies are also involved in a truck project in Argentina.

Tata Motors is one of the leading automakers in India with their Indica and Indigo car products. They are also scheduled to launch their Rs. 1 lakh car sometime next year.

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