British American Tobacco (BAT) is to build a plant in Tehran by next March with an anticipated production of three billion cigarettes a year, the Independent newspaper reported on its website Sunday, IRNA reported.
The Independent reported that BAT -- the owner of Lucky Strike and Kent cigarettes -- is shipping machinery to Tehran and expects it to be operational by the first quarter of 2004.
It stressed that the move is part of a continuing alliance with the Iranian Tobacco Company (ITC), adding that the alliance had been first announced last year with an initial investment of 30 million dollars.
The daily reported that BAT makes and distributes its Montana brand from an ITC plant but is seeking to switch production to a wholly owned facility.
When operational, BAT expects the plant to produce around three billion cigarettes a year.
It will retain its joint venture with ITC to distribute cigarettes, the Independent wrote.
... Payvand News - 11/9/03 ... --