Contract to manufacture Hyundai cars in Iraq
Hyundai signs contract with the Iraqi
General Company for Cars to build an Hyundai auto manufacturing factory within 3 years.
BAGHDAD / IraqiNews.com: Iraqi Automobile Industry Company signed a contract with South Korean Hyundai Company to manufacture and assemble different types of Hyundai cars with a cost of 44 billion Iraqi dinars. The contract contains producing 2000 saloon cars per annum in Iraqi company’s factories. A manufacturing line shall be made within three years time. On the other hand, the Iraqi company completed an economic feasibility study to establish a factory that will produce an Iraqi-made car, with the financing of Finance Ministry, if the law permits.