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IKCO Launches More Localization Projects

IKCO Launches More Localization ProjectsIKCO Launches More Localization Projects

Carmaker Iran Khodro (IKCO) has launched nine localization projects to curb the company’s capital flight by at least €17.5 million annually.
The firm’s CEO Farshad Moqimi has been quoted as saying by IKCO Press, “We have initiated nine new projects that would cut capital flight by €17.51 million.”
According to Moqimi, 31 projects are on track, which will hopefully reduce reliance on foreign suppliers and curb capital flight to the tune of €52.62 million.
He noted that several other projects are being studied, which could reduce auto industry-related imports by €163 million.

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