Baghdad (Agencies): Iraq is getting ready to set up an advanced plant for the production of renowned German car brands, Mercedes-Benz and MAN Truck & Bus, in a key step toward economic development and regional cooperation.
A strategic alliance with Saudi Arabia would be used to carry out the plans for this huge project, according to Mohammed Al-Daraji, a senior advisor to Iraqi Prime Minister Mohammed Al-Sudani.
A delegation from the Iraqi government recently traveled to Saudi Arabia to discuss the joint venture. The plant will be co-owned by the Iraqi Military Industrialization Authority.
Al-Daraji claims that a Memorandum of Understanding (MoU) has been negotiated with a major Saudi investment corporation, signaling an important step towards the project’s realization. The plant will be co-owned by the Iraqi Military Industrialization Authority.
This agreement paves the way for the development of two production facilities in Iraq for the production of Mercedes-Benz and MAN Truck & Bus.
The collaboration between Iraq and Saudi Arabia is not only a sizable economic project, but it also serves as a monument to how regional cooperation may result in positive changes for the automotive industry and other sectors.