Iraq is planning to build a plant for the production of the German Mercedes and Man vehicles with Saudi partnership, an Iraqi official was quoted on Friday as saying.

An Iraqi government delegation visited the Kingdom this week to discuss the project, which will be co-owned by the Iraqi Military industrialization Authority, said Mohammed Al-Daraji, an adviser to Iraq’s Prime Minister Mohammed Al-Sudani.

Daraji, quoted by Aliqtisad News and other Iraqi publications, said the Authority has already signed a memorandum of understanding with a Saudi investment company to carry out the project in Iraq.

“We have recently signed a MoU with a global Saudi Investment company to build two plants for the production of Mercedes and Man vehicles in Iraq,” Daraji said without identifying the Saudi firm.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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