Egypt's GB Auto considers $1.5 bln of investments

Egypt's biggest listed vehicle assembler and distributor, GB Auto, is considering investing $1.5 billion to build two new factories in the country in the next 3-4 years and plans to expand the firm's operations to east Africa, its CEO said.

Raouf Ghabbour also predicted revenue of about $1.7 billion in 2014 and was upbeat about investing in Egypt because of what he called a "stable political situation".

"Our investment decisions are going to be much easier going forward because at least politically we are in a better situation. We have big plans for investments going forward," he told Reuters in an interview on Tuesday.