Economy, Auto
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SAIPA to Produce Cars in Algeria

SAIPA to Produce Cars in AlgeriaSAIPA to Produce Cars in Algeria

Starting in the second half of 2016, Iran’s second largest auto manufacturing company, SAIPA, will start the production of five models in Algeria, said Mehdi Jamali, the company’s CEO.

The models Tiba, Saina and Pride are among the range of vehicles that will be produced in the country, local automotive news website Donyaye Khodro quoted Jamali as saying.

An Iranian business delegation, headed by First Vice President Es’haq Jahangiri, visited Algeria during which a contract was signed with an Algerian company stipulating that SAIPA will annually produce 20,000 vehicles there. The name of the Algerian company was not mentioned in the report.

According to Jamali, SAIPA previously exported vehicles to Algeria, but this is the first time the two countries are setting up a joint venture to manufacture vehicles.

“If an auto part manufacturing site is set up in Algeria and the supply chain is optimized, SAIPA will be able to produce more than 20,000 vehicles on an annual basis,” he projected.

 

Financialtribune.com