Volvo Expects Biggest Growth in Iraq

By John Lee.

Volvo Group Trucks is on track to grow by 30 percent in the Gulf region by 2015 on the back of a construction boom in Iraq and a strong economy in Saudi Arabia, according to a report from The National.

Stefan Soenchen, business team director in Iraq, said:

The key markets are Saudi Arabia and Iraq, [which is] where we expect the biggest growth. The whole infrastructure was destroyed [after the invasion of Iraq], so it is necessary to do huge investment over the next five to ten years to rebuild the whole country. That is then a normal growth from year to year.

The company operates two truck centres in Iraq in partnership with ZamZam General Group and plans to open a third by the end of the year. There will also be a new truck assembly line in Babylon-Iskandariya, which will be one of the first in the country.

(Sources: The National)

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