Contract Signed with Chinese Co. to Assemble Cars

Iraq’s state-owned General Company for Car Manufacturing, which belongs to the Ministry of Industry & Minerals, has signed a contract with the Chinese Proton Company, to assemble and market 1,000 cars annually.

According to the report from Aswat al-Iraq, the Iskandariya-based company has also signed a contract with the Teachers Syndicate to supply teachers with 50,000 saloon cars, on an installment basis.

The Director-General of the Cars Manufacturing Company, Adnan Ahmed Razin, told the news agency that the estimated value of the contract exceeds 18 billion Iraqi dinars [$15 million].

“The cars, to be assembled inside Iraq, will include two models. It will include 15-passenger buses, with modern specifications, along with small double-compartment pickups, that will satisfy the need of the local Iraqi market for such cars,” Razin said.

The Company sold 15,142 saloons and pickups during the 2nd quarter of this year, generating revenues of more than 7 billion Iraqi dinars.

(Source: Aswat al-Iraq)

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