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June 19, 2007


AMMAN -- A Chinese firm Tuesday signed an agreement with a Jordanian company to set up the first private car assembly and manufacturing plant in Jordan, with a starting capital of $30 million.

Under the deal, China's Hebei Zhongxing Automobile and Jordan's Ayass Motors will begin operating in 2008, with initial production capacity of 4,000 to 6,250 vehicles, Ayass chief Mazin Ayass said at a signing ceremony in Amman.

Annual production of four- and two-wheel-drive vehicles as well as pickups will rise to 12,000 and then to 24,000, targeting Arab and East European markets, Ayass added. The joint venture hopes to manufacture sedans and salons at a later stage.

"Around 25 percent of car parts will be manufactured in Jordan, which will positively reflect on local industries," he said.

The plant, to be set up in Um Rasas, south of Amman, will increase its capital to $50 million by the end of the project's fifth year, and later raise it to $230 million, Ayass said.

Maan Nsur of Jordan's state-run Investment Promotion Corporation expects the venture to create more than 17,000 jobs.

Zhongxing Automobile general manager Robert Chi Yu described the project as "a milestone for cooperation" between the two sides.

According to the Zhongxing Web site, the Chinese company is a "pioneer in pickup truck exports as well as manufacturing" and aims to become "the first Chinese automaker to sell automobiles in the United States" later this year.

The deal was sealed on the sidelines of a two-day conference in Jordan to mull ways of bolstering trade between Chinese businessmen and their Jordanian counterparts.
 

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In the evening of 31th Oct,President of ZXAUTO and President of Ayass Motors signed an agreement in Shanghai to build an automobile assembly plant in Amman, Jordan with a production capacity of 5,000 units per year.

After the ceremony, his royal highness King Abdullah II of Jordan held a meeting with Mr. Robert Yu, president of ZXAUTO.

Mr. Robert Yu expressed his thanks to King Abdullah II for making himself available to preside over the signing ceremony between AM and ZXAUTO, and re-affirmed that ZXAUTO will try its best to make the program completed with high quality and on time.

King Abdullah II stated that he will visit the factory after the construction completes.

Mr. Robert Yu expressed that he very much looks forward to the visit by his highness King Abdullah II to the facility.

Mr. Robert Yu received a lot of attention from the media, including a large Jordanian media .They made an exclusive interview for Mr. Robert Yu , showing great enthusiasm and hope on ZXAUTO investing and building factories in Jordan.

Signing Ceremony:


source: http://www.zxauto.com.cn/en/news/news4.asp

And link to the official homepage of the Ayass Motors: http://ayassmotors.com/
Not much info at the moment, just the logo.
 

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Chinese automaker helps Jordan build first auto plant.

February 3, 2008 – Prime Minister Nader Dahabi last Wednesday laid down the foundation stone for Jordan's first car manufacturing plant, a joint venture between Chinese automaker Hebei Zhongxing Automobile and a local company, Ayass Motors group, local news agency Petra-JNA reported last week.

The plant, being established by the Iyas Company for Manufacturing Automobiles, is situated 30 kilometres (km) south of the capital, Amman. The factory will produce a range of small and medium trucks, as well as the Grand Tiger pick-up and Landmark sports car under the Iyas Motors brand.

It will begin operations in 2008, with an initial capacity of 4,000-6,250 utilities a year, expected to rise eventually to 24,000 units, designed for Middle Eastern and Eastern European markets. Passenger cars will be added to the plant’s line up at a later stage, according to an earlier report on www.autoindustry.co.uk last year.

Around 25% of content will be sourced from Jordanian suppliers, the report said. Ayass Motors said the plant, south of Amman, will increase its capital to $50 million by the end of 2012, and ultimately, may receive investment of as much as $230 million. Jordan's Investment Promotion Corporation expects the venture to create more than 17,000 jobs.
source: Gasgoo.com
 
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