Sci & Tech

Iranian Automakers, SMEs Sign $108m Localization Deal

Iranian Automakers, SMEs Sign $108m Localization DealIranian Automakers, SMEs Sign $108m Localization Deal

In line with the state policy to localize auto parts production, two Iranian carmakers have signed agreements with local SMEs to provide some relief to the country’s auto industries that have been hard-pressed by US sanctions.
During a meeting held on Thursday in Tabriz, East Azarbaijan Province, SAIPA auto-manufacturing company and its affiliated part makers SAPCO, Sazehgostar and Mega Motor, signed a multilateral deal worth 5.75 trillion rials ($47.9 million) with small- and medium-sized enterprises, IRNA reported.
The deal envisages the localization of 14 key parts that used to be imported.


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