A technical team from Proton Holdings Berhad, a Malaysian automobile manufacturer, is scheduled to visit Egypt in April to discuss with Egyptian officials the establishment of a factory to produce 100,000 cars a year, Egyptian Ambassador to Malaysia Salah el Wessimy said on Thursday.

Speaking to MENA, Wessimy said the Malaysian automobile company seeks to make use of Egypt's distinguished position to increase its investments in Africa and neighboring countries.

He added that the Egyptian local component will constitute 40 percent of the new automobile project.

Wessimy noted that he met with former Malaysian prime minister Mahathir Mohamad and a raft of Proton senior officials earlier as they discussed the plan of the Malaysian company to increase its investments in Egypt.

Source: MENA