Iran Khodro Subsidiary Attracts State Investment
Iran Khodro Subsidiary Attracts State Investment

Iran Khodro Subsidiary Attracts State Investment

Iran Khodro Subsidiary Attracts State Investment

The government has invested 170 billion rials ($4.5 million) in a subsidiary of Iran Khodro in the northern Mazandaran Province, according to the head of the production plant.
CEO of IKCO Mazandaran, Omid Hosseininejad, said, “The government wants to modernize the production plant,” IRNA reported.
New production plants will be launched before the end of the current fiscal (started March 21). “The investment will boost IKCO Mazandaran’s output," he said without elaboration.
Since the beginning of the current Iranian year, the factory is operating in two shifts. It produces 140 Peugeot Pars sedans on a daily basis.
Hosseininejad said the company wants to increase  production to 180 units per day.”
During the last fiscal IKCO Mazandaran produced 31,272 cars.
After inception in 2010, the company near the Caspian Seas has produced 100,000 cars. It has 350 workers.
Meanwhile, IKCO Mazandaran’s output during 11 months of the last fiscal was 28,712 -- a 29% increase m/m. Up until May 2016,  the province  produced 3% of all local-made cars.

Short URL : https://goo.gl/RyIxjs
  1. https://goo.gl/L8JSvT
  • https://goo.gl/Qb9gPY
  • https://goo.gl/cInt3c
  • https://goo.gl/1uBte9
  • https://goo.gl/X9Pzr2

You can also read ...

Central Bank of Iran Against Market Intervention
Central Bank of Iran's Governor Abdolnasser Hemmati said the...
New Forex Initiative Unable to Tip Scales
The new forex initiative has only managed to fix major policy...
VDMA Backs Iran Trade
Germany’s plastics and rubber machinery trade association,...
Musk Bid for Tesla Still Murky
Tesla Inc’s board named a special committee of three directors...
Tehran Shows 4th Biggest Upturn in Economist’s Livability Index
Tehran is one of the top five cities in the world to have...
Equity-Based Sukuk Return to Iran Capital Market
The government is set to clear part of its debt to Social...
S. Korea Bans Recalled BMWs Over Fire Fears
The South Korean government has said it will ban about 20,000...
Over €81m Worth of Airport Equipment Purchased  Post JCPOA
Iran Airports & Air Navigation Company, an arm of the...

Add new comment

Read our comment policy before posting your viewpoints