Khodrocar reports from IDRO-Renault signing agreement (4);
Renault announced its long-term presence by investing 660 million euros in Iran
The contract signed between Renault, IDRO and Parto Negin Naseh and according to that, 40 percent of Renaults products will be produced domestically.
According to Khodrocar journalist, Mansour Moazami 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. All products will be priced under 100 million tomans.
Moazami emphasized: This contract includes the chassis and gearbox production.
This contract signed between IDRO and Renault with the presence of Mohammadreza Nematzade and Mansour Moazami, IDRO's CEO.
According to the contract an 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.
Senior Vice President of Peugeot stated: This contract will cause the long-term presence in Iran.
He adds: Renault is a well-known brand in Iran and this contract is an exception in Iran’s car industry. Peugeot has proven itself to Iran’s market since its existence (2004) and definitely is a strategic partner for Iran’s car market.
This contract also includes the establishment of Renault Engineering and Purchasing Center in Iran and its co-operation with its old partners, Iran Khodro and Saipa, regardless of the new contract.
Renault’s statement:
After the agreement, Thierry Bollore Chief Competitive Officer of Renault, told the journalists in a statement: Iran is one of the most strategic countries in the world for Renault and because of the country’s good potentials, we are very proud to sign this contract and it is a guarantee for a long-term presence in Iran.
He continues: Our cooperation with our two old partners, Iran Khodro and Saipa, will continue and will be expanded in the future and also the production of Tondar, Tondar pickup, Sandro and Sandro Stepway will be continued.
Morshed Solouk, one of Negin Parto Naseh’s board members stated: With 70 years of experience, Naseh Group entered into a new field of automotive products by participating in this contract.
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