Daewoo International nears agreement to establish Saudi assembly plant
Plant will be capable of producing 150,000 cars a year by 2018.
The Saudi National Automobile Manufacturing (SNAM) Company and the Saudi Arabian Public Investment Fund (PIF) have signed a memorandum of understanding with South Korea's Daewoo International to establish an automobile manufacturing plant in the Middle Eastern country, reports Arab News. The planned plant is aimed at meeting domestic demand and also catering for the ever-increasing automobile export market in the Gulf region.
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