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Al Nahar allocates EGP 40m for the development of 50% of its fleet beginning in 2017 - Daily News Egypt

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Al Nahar allocates EGP 40m for the development of 50% of its fleet beginning in 2017

We have contracted with Ghabbour to carry out necessary developments, says Abou Zeid


Al Nahar tourism company has contracted with Ghabbour Auto (GB) to develop 50% of its tourist bus fleet starting in 2017, with an investment cost of more than EGP 40m.

Lotfi Abou Zeid, chairperson of Al Nahar, said that the company seeks to develop its fleet on a regular basis. The company does not use buses that have stayed with them for more than 10 years in an attempt to attract the largest number of tourists possible.

In an exclusive statement to Daily News Egypt, Abou Zeid explained that the decline in tourism has not impacted the company’s plan to develop its fleet regularly, despite the decline of the company’s revenues by 50%.

He noted that the allocated cost is EGP 40m, paid in instalments.

He explained that the company will depend on local products in the development process in order to be able to pay on credit because foreign companies require immediate payment upon receipt.

Local products have the advantage of prices cut by 50% compared to imported products, according to Abou Zeid. He added that the price of a local bus is EGP 2.4m.

He said that the increase of the US dollar price has increased prices by at least 20%.

Abou Zeid noted that Al Nahar seeks to support locally-manufactured products.

Local products are no less than foreign products imported from the European market in terms of quality, he added.

The Al Nahar chairperson noted that tourist transportation is suffering from the lack of tourism and has recorded a decline of more than 95% in some European markets that served as the backbone of tourism in Egypt.

Al Nahar has been operating in the local market for 40 years, and specialises in tours to religious sites. The company has expanded through the acquisition of various tour companies, including Labbaik for religious tourism, GR Tours, Lapharo Tours, New El-Nahar, Kayed Tours, Mayadeen Travel, and El-Fagr Tours.

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https://dailynewsegypt.com/2016/10/13/al-nahar-allocates-egp-40m-development-50-fleet-beginning-2017/
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