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  • 02-08-18

    Jordan inks deal for USD1.5bn car production plant

    (MENAFN) Jordan was announced to have inked a deal with a local firm for the establishment of a USD1.5 billion car production plant.

    Al-Rai reported the project to be launched in Southern economic zone of Aqaba, and is planned to manufacture almost 50,000 vehicles per year.

    The plant is to be constructed by the Jordanian Siag Arabian Auto Manufacturing Company under a deal with Aqaba Special Economic Zone Authority.

    The authority's chairman Nasser Al-Sharida reportedly stated "work on the first phase of the project will begin early next year... it will cost about $450 million and will be completed within two years."

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