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Iran, Renault motors sign deal on car production

Iran, Renault motors sign deal on car production

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Image result for Iran, Renault motors sign deal on car productionThe French car firm, Renault, has refurbished its car plant in Iran with plans to produce 300,000 car annually.

The car making project is a joint venture between the Iranian government, a private firm and Renault.

Renault holds 60% equity in the business, located at Saveh, 74 miles south – west Tehran.

Mansour Moazami, Head of Iranian Industrial Development Organization, said the first phase of the project will lead to the production of 150, 000 vehicles in eighteen months.

Renault currently produces 200,000 cars annually in Iran.

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