EghtesadOnline: Iran’s second largest auto manufacturing company, SAIPA, will start the production of five models in Algeria by the end of the current year, the company’s customer services director said.
“After a strong presence in Iraq’s auto market, we are now focusing on the Algerian market,” Abbas Safari was also quoted as saying by IRNA during the international auto show held in the northwestern city of Urmia, West Azabaijan Province. According to Safari, the plan will be a joint venture between the Iranian automaker and as yet unnamed Algerian firm in the private sector. “The overall project is worth $50 million, with SAIPA having a 25% share and the Algerian partner holding the remaining 75%,” he said. Mehdi Jamali, SAIPA’s CEO, had previously mentioned that the production line will be launched by the end of the current Iranian year (March 20, 2018). The models Tiba, Saina, Pride and three pickups (Padra, Sapia and Rich) are among vehicles targeted for production in the country. The company has so far reached a deal with Tahkout Manufacturing Company to produce auto parts for their Maghreb branch, Financial Tribune reported.