Iran’s second largest automaker Saipa has reportedly signed a deal with a Nigerian carmaker to set up a car plant in Nigeria for the production of budget vehicles.

PAN TECH, a subsidiary of PAN Nigeria said that the JV would invest billions of naira and would set up an auto plant in Nigeria for the production of Saipa brand of vehicles.

Mr Majid Jamali overseas marketing manager of Saipa said that the contract also allows the Iranian company to export its first shipment of vehicles to Nigeria as soon as possible. The venture aims at providing affordable and dependable vehicles for low income earners, students and those who care about their budgets.

He said that Saipa produces a number of models from the French carmaker Citroen ranging from the midsized C5 and Xantia to Rio passenger cars, in addition to its domestic compact models such as Saipa 141, Saipa 132, Saba and Nasim. He added that the agreement was inked in line with Saipa’s international development strategy, which foresees a continuing annual production growth every year. The cars have been tested and are already doing very well in countries like Syria and Ghana.

Mr Rabiu Ibrahim head of PAN Nigeria said recently that his company was set to do business with Saipa. PAN Nigeria is already working with the Iranian automobile company. We have assessed their cars and can assure you that they are compatible with Nigerian environment and are good for Nigerian roads.

He said that for now, there are a few samples of the cars in the country, but in a short while, more will be brought in for intending consumers.

(Sourced from Press TV)