Tractor Company Releases Production, Export Data

EghtesadOnline: Head of Iran Tractor Manufacturing Company (ITMCO), announced the firm's production and export figures in the last fiscal that ended on March 20.

News ID: ۷۷۵۴۲۰

13 April 2017

Abolfat’eh Ebrahimi told IRNA that the company exported 2,000 tractors to neighboring countries  with a total value of $235 million.

The company produced 14,400 tractors during the one year period. He did not give production figures in the previous year for comparison.

According to Ebrahimi, the company is set to produce 18,000 tractors in current Iranian year, aiming for a 30% year-on-year increase, Financial Tribune reported.

"Iran Tractor Industrial Group will export up to 25% of its products this year.”

Ebrahimi named Azerbaijan, Afghanistan, Pakistan, Iraq as some of the main destinations for Iranian  tractors.

The company is the largest producer of tractors in Iran with an 80% share.

Ebrahimi urged the government to offer incentives to farmers enabling them to purchase modern equipment. The government "should impose higher tariffs on the import of tractors" to give domestic producers a boost.

The company produces a range of small and medium diesel-powered tractors with single and double differential gearboxes.

Many of the older models are based on Massey Ferguson designs from the 1970s, as part of a joint venture prior to the 1979 Islamic Revolution.

The company has a production capacity of 30,000 vehicles a year, according to its own estimates.

ITMCO is located on the outskirts of the industrial city of Tabriz in northwest Iran.