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Iran's 2006 auto deals with Russia, China worth over $1 billion

TEHRAN, March 7 (Mehr News Agency) - Iran has inked three automaking contracts valued at more than $1 billion with Russia and China since the current Iranian calendar year (started March 21, 2006), Iranian Students News Agency (ISNA) reported on Tuesday.

Iranian automakers Iran Khodro Company (IKCO), SAIPA, and Kerman Khodro signed Russian companies GAZ and KAMAZ, Chinese carmakers Beiqi Foton Motor, Dongfang, and Chery Automobile Co.

According to the contracts, IKCO exports 6,000 Samand cars to Russia every year and 30,000 are produced in China.

Iran's heavy trucks manufacturer, Iran Khodro Diesel, is to start assembling 12,000 new version of Russian GAZ van called Gazelle (Ghazal).

The van costs about $16,163 (Rls.150 million) and the production in its first phase will be as Completely Built-up Units (CBU) before March 21, 2007 and gradually the Completely Knocked Down (CKD) assembling will start and during a year the plan is to produce about 50 percent of the product as domestic production.

This contract is worth 300 million dollars and the Russian side is committed to transfer the technology to Iran.

Iran is to start Russian KAMAZ trucks production in the northeastern capital Tabriz according to the over 300 million contract, the biggest the two states have ever signed.

China also made many deals with Iranian automakers, such as $370 million investment on a Chinese automobile (QQ6) of which 30 percent belongs to Chery, 49 percent to Iran Khodro, and 21 percent to a private company.

Assembling of China's Queen worth $8,600-$10,700 (Rls.80-100 million) and MVM520 worth $18,300 (Rls.170 million) are the other Iran's plans.

... Payvand News - 3/7/07 ... --

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