Hyundai Signs $36m Contract for Iraqi Car Plant

The 'Iraqi Automobile Industry Company' [State Company for Automotive Industry] has reportedly signed a contract with the South Korean company Hyundai to manufacture and assemble Hyundai cars.

The contract, worth with 44 billion Iraqi dinars [$36 million], involves the production of 2000 saloon cars annually.

The manufacturing line is to be completed within three years.

As of 2011, the Hyundai Kia Automotive Group is the eighth largest, and fastest growing car manufacturer in the world. It has plants all over the planet, including operations in Turkey (Hyundai Assan Otomotiv) and Egypt (the Ghabbour Group / GB Auto).

The Iraqi company has completed an economic feasibility study to build a factory that will produce an Iraqi-made car.

(Source: Aswat al-Iraq, Construction Week Online)

One Response to Hyundai Signs $36m Contract for Iraqi Car Plant

  1. Naghmeh 7th June 2012 at 07:21 #

    Our company is willing to buy several machine
    Please give us the price and model cars
    Naghmeh from Iran