Saudi school will make cars for North Africa and Persian Gulf

King Saud University, Riyadh, Saudi Arabia
The investment arm of Saudi Arabia's King Saud University plans to build cars for sale in the North African and Persian Gulf markets, said the university's president, Abdullah al-Othman. The official SPA news agency said a South Korean company, which wasn't named, will own a 30% stake in the car-building venture, with the university's Wadi al-Riyadh Technology subsidiary owning 10% and private investors holding the rest. Full story here