Iran-Venezuela company to increase car production

Business Materials 27 May 2011 18:32 (UTC +04:00)

Azerbaijan , Baku, May 27 /Trend/

Irani-Venezuela joint car company Venirauto will increase production and assembling up to 16,000 cars annually, Fars News Agency reported quoting Venirauto Director Rafael Bolivar as saying.

Venirauto will increase production from 2,200 to 16,000 cars.

The company assembles Iranian cars Pride and Samand in Venezuela.

The Turpial DLX and the Centauro EL, are the only models under production, The company has come up with a contingency plan to make between 200 to 300 cars per week, Rafael Bolivar said.

Venirauto began production in November 2006 under a cooperation agreement signed between the governments of Iran and Venezuela. The Venezuelan state owns around 64% of the shares, and the rest goes to Iran's Toseyeh Sanayeh Khodoro Company.

Venirauto is just one of many cooperation agreements signed between Tehran and Caracas that has helped Venezuela in its drive for self-sufficiency.