FINANCIAL NEWS

Chinese firm to begin work on USD84mn unit in Duqm

23 Apr 2017

(MENAFN) Wuhan Xiao Long Automotive Techs Co. aims to start work on a high-mobility special utility vehicle project in Duqm free zone among two months.

Furthermore, the firm aims to design the plant before starting building of the first phase, which will have a capital spending of USD84mn.

Meanwhile, the Chinese firm also started talks with Oman-based investment funds to attract investment for constructing the automobile unit as a mutual venture project.

The company also aims to generate 10.000 units per annum- 9.000 units for civil use and 1.000 for military use in the first phase.

MENAFN2304201700450000ID1095409892

MENAFN2304201700450000ID1095409892

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