Iran-Renault joint product will enter market next year: IDRO official

EghtesadOnline: A sum of 300,000 Renault cars will be built in a five-year term and first products will enter the market in the final months of the next Iranian calendar year (started March 21, 2018), senior IDRO official said.

News ID: ۷۷۸۵۳۸

19 August 2017

Head of Iran's Industrial Development and Revolution Organization (IDRO) Mansour Moazami made the remarks on the sidelines of a ceremony held to celebrate a contract between Renault, Industrial Development and Renovation Organization of Iran (IDRO) and Partov Negin Naseh Holding Company, according to IRNA.

'We pursue promotion of domestically made products through joint venture with international brands,' the official noted.

He said: 'Up to 66 million Euro will be invested at the first phase of the project.'

Meanwhile, Executive Vice President and Chief Competitive Officer in Renault Group Thierry Bolloré called the contract with Industrial Development and Renovation Organization of Iran (IDRO) and Partov Negin Naseh a remarkable deal in one of the most strategic countries of the world .

Based on the contract, Renault will sponsor the project in all phases, including investment, technology transfer, engineering and export, Bolloré added.