Khodrocar reports from IDRO-Renault signing agreement (3);
The 660 million euros investment for car production/ Iran connects to Renault [Update]
After 10 months of negotiation, the contract signed between IDRO and Renault that includes the car production and launching and engine factory in Iran.
According to Khodrocar journalist, Mansour Moazamin told Khodrocar during the signing agreement conference: After 10 months of intensive negotiation, it has been agreed to sign an agreement, with IDRO’s 20 percent participation. This is the tenth contract.
He adds: First phase of the investment will be 660 million euros and includes the production of Duster and Symbol models.
IDRO CEO said: By signing this contract, part makers and other partners will connect to Renault’s distribution network.
Moazami emphasized: This contract includes the chassis and gearbox production.
Today, the contract signed between IDRO and Renault with the presence of Mohammadreza Nematzade and Mansour Moazami, IDRO's CEO.
According to this contract, the engine factory will be launched in Iran
The Ministry of Industry, Mining and Trade stated that this contract connects the Iranian manufacturers and part makers to Renault international supply chain, and said: According to this contract, an independent engine factory will be launched in Iran.
Mohammadreza Nematzade said: About 12 years ago, a partnership began with Renault company but the things didn’t go well but now, after the sanctions removal, both companies have a second chance.
He adds: Iran has a 50-year history of automobile assembly and sales in the country but due to sanctions and breakdowns from international market, our country couldn’t have a global presence.
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