Iraq: Agreements signed with Chinese auto companies
The Iraqi Ministry of Industry and Minerals said in a statement Tuesday that the General Company for the Automotive Industry had signed two contracts with two Chinese companies for the assembly and production of 7500 saloon cars and pick-ups. These cars annual value of sales is put at to 99.05 billion dinars (about US$84 million).
The statement, quoted by the "Voices of Iraq" agency, conveyed that the Director-General of the company, Eng. Adnan Ahmed, had said that the first contract was signed with Great Wall Motor China. It includes the production of saloon cars and pick-ups with a capacity of 4000 units per year. The plant will be built 50 km north of Hilla. It should be noted that Great Wall Motor Company Limited is a large multinational company, the first private whole vehicle automaker listed on the Hong Kong Stock Exchange.
The second agreement was signed with the Chinese company Gonow. This agreement includes the production of passenger cars and pick ups with a capacity of 3500 cars per year. According to Ahmad, the number of foreign companies specialized in manufacturing saloon and pick-up cars that signed contracts in Iraq amounted to eight with a production capacity of 25,500 cars annually.
- 'Sensitive assets': how ports are advancing the GCC's strategic interests
- Why Oman's cargo port is shifting from Muscat to Sohar
- Airlines need to stick to their promise - it's always safety first, profit after
- The unquestionable Suez Canal development project leaves many questions unanswered
- What's next after the Etihad-Alitalia deal?