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Renault signs $648m part agreement with Iranian firms

TEHRAN, Mar. 10 (Mehr News Agency) -- The joint effort between Iranian and European part manufacturers appears to be more promising and based on the latest information Renault Company has already signed a $648m agreement with 50 domestic part makers to build 300,000 L90 passenger cars, the Persian service of ISNA reported on Friday.

Furthermore, 22 contracts regarding technology transfer have been finalized and out of 10 relevant deals on L90 Project, there are only five left to see the light of the day soon, a Renault official told ISNA. "We are coming to acknowledge the capabilities of the Iranians more and more, and two giant molding firms have already joined Renault-Nissan Alliance," he stipulated further.

Another French corporation, Peugeot, is also going to establish a purchase office in Tehran, conceding to Iran's domestic abilities in the field. Production of brake, steering wheel, oil pump and starter systems by the country's part manufacturers as well as building the engine and gearbox at Mega Motors and Charkheshgar of Iran respectively are among the French plan to add Iran to Peugeot's global chain.

... Payvand News - 3/11/06 ... --

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