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FINANCIAL NEWS
Saipa to open car factory in Sudan
13 Sep 2010
(MENAFN) Saipa Automotive Manufacturing Group, Iran�s second largest automobile manufacturer, said that it has signed a deal to set up a factory in Sudan to produce 35,000 cars over the next five years, Mehr news agency reported.
Saipa produces a number of models from the French carmaker Citroen, ranging from the midsized C5 and Xantia to a MPV, in addition to its two domestic compact models Saba and Nasim.
The Iranian government owns 48 percent of Saipa. Iran is also home to the Iran Khodro Car Company, making it the only country in the Middle East that has any domestic car manufacturers.
The new plant in Sudan is the second plant that Saipa has announced in less than a year. In May the company opened up the largest car factory in the Middle East, with an annual production capacity of 150,000 cars, at the cost of $350 million.
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30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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