Mr Fuad Isa Juni minister of industry of Syria announced the progress of the car manufacturing project at the Syrian Iranian Automobile Manufacturing Company which includes manufacturing shop and paint and body shop. Mr Juni clarified that Syrian Iranian Automobile Manufacturing Company now has the capacity of both manufacturing and painting the Sham car's bodies after that was done so far by Iran Khodro Company in Iran.
He added that this phase would be inaugurated in March. In this way, the two new shops start production and the company carries out extra amount of more than 40%, which allows its exportation to some Arab countries. Mr Juni indicated that Ministry of Industry worked, in cooperation with Ministry of Finance, on modifying the full fee of consumer spending on the car upon registration at transport departments and on exempting any piece produced in Syria by 50%, which helps the company to provide the necessary currency to continue production in addition to reducing production costs. He said that despite the world's financial crisis the price of the car is still competitive compared to imported cars. For his part, Mr Ziad Qutaini head of SIAMCO Board spoke on the intention to launch a new model of the Sham equipped with 1600 cc. engine next month. Mr Juni said that the company will launch Sham Automatic car with a French engine, which includes all the new extra specifications demanded by some spectrums of people. Mr Qutaini mentioned that SIAMCO is now negotiating with Iran Khodro to produce a new model different from that of the Sham with new specifications and a new name. The design capacity of the factories of SAIMCO which opened on the 8th of March 2007 reaches about 10000 cars per year at a rate of 40 cars on daily basis. The company's shares are divided as such, the General Organization for Engineering Industries has 35%, Iran Khodro has 40% and the Syrian Trade company, Al Sultan, has 25%. The prices of The Sham car vary between SYP 57,5000 and SYP 62,5000.