Economy, Sci & Tech

Scania's Interest in Post-Sanctions Iran

Scania's  Interest in  Post-Sanctions IranScania's  Interest in  Post-Sanctions Iran

Sweden’s biggest bus producer Scania AB wants to invest in Iran when economic sanctions are lifted. “We are ready,” Scania spokesman Hans-Aake Danielsson said by phone on Wednesday. “If and when it takes off, Iran can be a significant market for Scania."  Ericsson spokeswoman Karin Hallstan said in an email that the company has had customers in Iran “for over 100 years” and plans to “explore opportunities” with new ones as it monitors developments following the nuclear deal, Bloomberg writes. Hallstan said about 200 Swedish investors are in Dubai this week to learn about opportunities in the region, including Iran. "Five or six years ago, Iran was one of our five largest markets for buses," Scania’s Danielsson said. "There is a large pent-up demand, but if the sanctions are lifted it will probably take some time before it takes off." Swedish exports to Iran amounted to 7.9 billion kronor ($951 million) in 2005, according to Business Sweden. Exports fell 83% in 2012 after more sanctions were imposed, it said in a report.