Ikarus Signs Import MOU
Ikarus Signs Import MOU

Ikarus Signs Import MOU

Ikarus Signs Import MOU

Hungarian bus manufacturer Ikarus and the Iranian City Industries and Mines Development Group (City IMD), affiliated to Shahr Bank (City Bank), have signed a memorandum of understanding to import buses.

During a meeting in Tehran on Monday, Ikarus Chairman Gábor Széles and City IMD Chief Mohsen Ahmadi signed the initial agreement, the local firm reported in a press release on its website.

Later and in an interview with Hungarian newspaper Magyar Hírlap, Széles said, “Ikarus plans to export 1,000 buses to Iran. The country is a key element to Ikarusʼs export strategy”.

The meeting between City IMD and Ikarus officials was also attended by Economy Minister Masoud Karbasian and his Hungarian counterpart Mihály Varga heading a business delegation to Tehran.

Varga said the Eximbank of Hungary has allocated a $162 million credit line for  the project.

According to City IMD director, talks are underway between Ikarus and local automotive companies over the prospect of producing buses in Iran.

“Mr. Széles and I visited some production plants of local bus makers including Iran Khodro Diesel, SAIPA Diesel and Zamyad. A joint production agreement is likely to be forged between Ikarus and an Iranian company,” Ahmadi further said.

Ikarus has a long history of presence in Iran and several of its models were popular in the country during the 1990s. But collaboration ended after the imposition of economic sanctions on Iran due to its nuclear program.

Short URL : https://goo.gl/kKEKnY
  1. https://goo.gl/WdAocC
  • https://goo.gl/EhPJyz
  • https://goo.gl/EWun6a
  • https://goo.gl/xgtwDh
  • https://goo.gl/8GJdhn

You can also read ...

FATF Gives Iran Until February to Complete Reforms
The international group that monitors money laundering...
Iran Private Sector Businesses Dispirited Over Economic Conditions - Report
A recent survey conducted by the Tehran Chamber of Commerce,...
Tehran Market: Gold Prices Move Toward Relative Calm
Gold prices are relatively stable according to the head of...
EU Mechanism for Iran Trade Pursues Long-Term Targets
France’s Foreign Ministry said on Thursday the creation of a...
UK Preserving Iran Humanitarian Trade in Face of US Sanctions
High-level meetings on Thursday and Friday in London were held...
Iran Government Expected to Change Currency Repatriation Rules
Iran's private sector remains steadfast in its opposition to...
Iran: Imports of Essential Goods Top $4.6 Billion (Mar-Sep 2018)
Over 9.13 million tons of essential goods worth $4.67 billion...
Tehran Stock Exchange's Main Index Registers 90% Growth Since March
The total value of traded shares in Tehran Stock Exchange...

Add new comment

Read our comment policy before posting your viewpoints