MINSK, Dec. 12 (Mehr News Agency) - The contract for the second phase of the Samand Sedan production project in Belarus was finalized between the Iranian and Belarusian officials of Iran Khodro Company (IKCO) in Minsk on Friday.
The Iranian Foreign Minister Manouchehr Mottaki and the ambassador to Minsk Abdollah Hosseini attended the signing ceremony, the Mehr News Agency reported.
According to the contract, the assembly line will come on stream in 18 months with the annual production capacity of 60,000 Samand Sedans.
The Export Development Bank of Iran has secured the contract's 36 million dollar fund.
Iran's President Mahmoud Ahmadinejad and his Belarusian Counterpart Alexander Lukashenko signed the initial agreement on May 20, 2008.
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