Unknown Fate of Renault in Iran
After two long years of follow ups, the contract between IDRO and Renault was finally signed so the long curse over it would break on August 7th, 2017. Yet three months has passed since the contract was signed but no productions has started yet.
KhodroCar – Back in January of 2016 right after JCPOA began, Renault was one of the first foreign car making companies who wanted to expand their business in sanction-less Iran. To what extent that even Payman Kargar, Renault Pars CEO of the time, mentioned a contract was signed between Renault and SAIPA.
Renault wanted to even go further over to IKCO to expand business as well. But after eight month, Industrial Development and Renovation organization, the IDRO surprised everyone by sitting at the same table with Renault to singe the contract, while IDRO brought SAIPA Group’s Bonro production site to the table as one of its own possessions.
The draft determined IDRO with 40 percent and Renault with 60 percent of the total share. Yet after ten month, IDRO did not succeed to provide all the needed fund by itself. That’s where Naseh Holding came into play to help IDRO, Splitting IDRO’s Share in return.
After all ups and downs it is now three month since the contract got signed, not only production has not started yet, but also some informed sources say that the fate of Bonro in not clear in the contract.
Apparently IDRO has not taken SAIPA’s Bonro away yet and that is why one of Iran’s biggest automotive investments’ fate is not known yet, while nobody is willing to give clear cut explanation about it.
Through past recent days, a delegation of Ministry of Industry, Mine and Trade’s automotive managers were invited to France, apparently not just for visit but also to renegotiate some parts of the contract. So far the conclusion is that IDRO could not act as powerful as an investor organization in its first automotive contract.
KhodroCar Reporter: Asal Dadashloo
KhodroCar Translator: Mostafa Anisi
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