Iran Export Development Bank, Iran Khodro and AzSamand Sign New Contract

Business Materials 3 July 2008 18:32 (UTC +04:00)

Azerbaijan, Baku, 3 July / Trend corr T.Jafarov/ "Export Development Bank of Iran, Iran Khodro industrial group and AzSamand company signed a contract on export of spare parts for 10,000 Samand cars to Azerbaijan, costing $73mln," Iran's IRINN news channel reported.

The contract was undersigned by the head of Iran Export Development Bank Korosh Parvizian, head of Iran Khodro industrial group Manouchehr Mantegi and the head of Azerbaijani company AzSamand Ali Evsen.

Parvizian said at the signing ceremony that the spare parts would be sent to Azerbaijan from Teheran-based Iran Khodro plant. The spare parts for 10,000 cars will be exported to the country within 3 years through 5 stages (2,000 cars at each stage).

Evsen said that is the third contract signed between AzSamand and Iran Export Development Bank. "The contract is very important in terms of economy," Evsen said.

Deputy head of Iran Khodro Keyvan Khojasteh said the company tries to improve the capacity of Samand cars assembling in Azerbaijan from 6,000 cars per year to 10,000. "We intend to provide Azerbaijan's internal demand and to export AzSamand to other countries," said Khojasteh.

Samand plant is located in Azerbaijan's Shamakhy town.