Renault to establish affiliate company in Iran

Azerbaijan, Baku, May.29/ Trend F.Karimov/

Renault car company will establish an affiliate company, named Renault Middle East, in Iran, aiming to boost exports to the Middle East, IRNA quoted Renault Pars Company managing director Payman Kargar as saying.

Iran will become the hub of Renault products, so that its products will be exported to 12 countries in the Middle East, he added.

The company is projected to manufacture three million cars per year, he said, adding that Saudi Arabia, the UAE, and Iraq will be the main export destinations.

Iran imported over 44,000 cars, valued at about $1 billion, during the past Iranian calendar year, which ended on March 20, ISNA reported.

The imports showed an 11.3 percent increase over the course of a year.

According to the report, the average price of these imported cars was $24,441.

The UAE, South Korea, and Kuwait were the main sources of cars imported to Iran, with 57 percent, 27 percent, and 4 percent shares of the total number of exported cars, respectively.

The Industrial Development and Renovation Organization's chairman Gholamreza Shafei said in December 2012 that the main problem facing the Iranian car industry is not international sanctions, but rather a shortage of revolving capital.

Iranian carmakers are manufacturing at 50 percent of their nominal capacity, he said.

This is due to a shortage of capital, the Fars News Agency quoted him as saying.

Iran plans to manufacture at least three million cars by 2025 and export some one million of them, Iranian Industry, Mines, and Trade Minister Mehdi Ghazanfari said on June 16.

Iran announces readiness to commit its JCPOA commitments
Iran announces readiness to commit its JCPOA commitments
Iran's envoy reacts to IAEA chief's comments
Iran's envoy reacts to IAEA chief's comments
Iran's nuclear technology improves despite limitations
Iran's nuclear technology improves despite limitations
Loading Bars
Latest
If you want to save Armenia, tell it to leave our lands, get away immediately - President Aliyev
Frozen state of Karabakh conflict was in everyone's interests, except Azerbaijan - President Aliyev
More citizens of Georgia to receive access to natural gas in 3 years
Number of Uzbek small businesses created over 9M2020 revealed
We have created new reality, everyone has to reckon with new reality now - Azerbaijani president
If ceasefire continues and issue remains frozen again, this cannot suit us - President of Azerbaijan
Georgian Airways releases flights scheduled for November
Less than two weeks after Heydar Aliyev resigned from all posts, Armenian separatists rose up and demanded that Nagorno-Karabakh be separated from Azerbaijan - President Aliyev
Anglo Asian Mining gives update on Vejnaly contact area
Pakistan supports Azerbaijan in its just struggle - Ambassador
Iran still working on releasing its frozen funds from South Korea
EBRD allocates loan to Azerbaijani group of companies
Azerbaijan's Cabinet of Ministers amends some rules of Cadastre Land Management Center
After Bolshevik revolution, there was great danger that Bolshevik government would hand over Nagorno-Karabakh to Armenia - President Aliyev
Iranian Deputy Foreign Minister to visit to Azerbaijan
BP’s net debt falls amid completion of JV with Reliance
Central Bank of Azerbaijan may receive new powers
Turkish ministry says Iraq minimizes import of domestic defense products
Azerbaijani currency rates for Oct. 27
Iran to operate desalination plant in Bandar Abbas
Liabilities of Turkey's Azerbaijani subsidiary bank notably grow
Armenian troops shelling Azerbaiajni Tartar district's city, villages
Kazakh Gas Refinery to buy construction materials via tender
Turkmenistan increases imports of dried legumes from EAEU countries
Pakistani National Bank's branch in Baku reveals its 9M2020 total assets
Kazakhstan's export volumes to Europe drop
Azerbaijani MP informs Turkish public about situation in Nagorno-Karabakh region (VIDEO)
Kazakhstan's Aktau port to buy pumps via tender
OPEC+ extension could prolong drag on overall GDP growth
Private sector may be used for modernization of power plant equipment in Uzbekistan
Azerbaijani parliament approves resolution to rename Veng village to Chinarli village
Volume of money supply in Georgia reaches new record high
Precious metal prices in Azerbaijan change
Kazakhstan's goods import from Netherlands surges
Data on 9M2020 cargo movement from Italy via Turkish ports disclosled
Turkmenistan buys various polymer products from Russia
Information about shelling of border post on territory of Armenia is false - MoD
Peaceful conditions in Karabakh needed to prevent further environmental damage - UNEP
Azerbaijani oil prices edge down
Turkey's 9M2020 export of defense industry products to Georgia grows
Georgia reports 1,824 new coronavirus cases
Kazakhstan increases iron ores production over 9M2020
Tight oil growth will never be as rampant in future
First Honorary Consulate of Ukraine opens in Azerbaijan
Liberation of Gubadli and Khanlig means breakthrough to Lachin corridor - Azerbaijani MP
Uzbekistan reveals volume of agricultural, forestry, fishery production for 9M2020
Ceasefire violations of Armenia must be considered for OSCE MG to yield concrete results - Turkish MFA
Volume of loans issued by Georgian commercial banks up
Bryansk Machine-Building Plant ready to increase locomotives supply to Turkmenistan
Iran’s Shazand Oil Refining Company supplies fuel to IRISL Group
Armenia is like Trojan horse inside CSTO - Turkish government
Russia's Bryansk Machine-Building Plant, Turkmenistan discuss terms of locomotives delivery
Cherries, grapes top list of fruits and vegetable products exported from Uzbekistan
Total volume of non-bank deposits in Georgian banking sector up
Azerbaijani MFA calls on int'l organizations to investigate breach of children rights by Armenia
Singapore ready to share with Uzbekistan experience in forming digital gov’t
France's import of defense industry goods from Turkey decline
Info on death of defense minister of illegal regime in Nagorno Karabakh issued
Assistant to Azerbaijani President Hikmat Hajiyev interviewed by Al Jazeera TV channel (VIDEO)
Armenia established corridor to bring PKK into Azerbaijan’s occupied territories - Assistant to Azerbaijani president
Blast at Pakistan religious school kills at least seven, including children
Uzbekistan to introduce Chinese standards into automotive industry
EBRD, EU provide another support to small, medium-sized businesses in Turkmenistan
Azerbaijan strongly condemns shelling of Euronews' crew by Armenia - president's aide (VIDEO)
Iranian currency rates for October 27
Tractors with telepathic system used to cotton planting in Turkmenistan’s Lebap region
Uzbekistan reveals its COVID-19 data for October 27
“Jewish Journal” publishes an article on Armenian protest in Los Angeles equating Israel to Nazi Germany
Armenia didn't respond to Azerbaijan's requests for release of war prisoners - Commission
Iranian government eyes to attract investors for Markan coast development
Iran to submit budget plan for new year
Armenia confirms liberation of Gubadli city by Azerbaijan
Iran`s return to FATF blacklist restricts its exports
Destroyed military equipment of Armenian Armed Forces - LIST
Chief of staff of Armenian Army motorized rifle division killed
Latest situation at front line on Oct. 27
Chinese mainland reports 16 new imported COVID-19 cases
Brazil's COVID-19 cases surpass 5.4 mln
U.S. Senate confirms Trump's Supreme Court pick Barrett in nearly party-line vote
5.2-magnitude earthquake hits central Iran, no casualties
Czech Republic to introduce night curfew from Wednesday
61 more coronavirus patients die in Moscow in past day
Germany reports 8,685 new COVID-19 cases
Footage from liberated from occupation Gubadli city (VIDEO)
Footage from liberated from occupation Khanligr village of Gubadli region (VIDEO)
Armenia does not want to take bodies of its deceased soldiers as it fears anger of people - Assistant to the President of Azerbaijan
Kazakh PM meets with Turkish Defense Minister
Footage from liberated from occupation Padar village of Gubadli region (VIDEO)
Azerbaijan neutralizes one of 3 missiles shot by Armenian troops at Azerbaijan's Tartar
Azerbaijan's Bank Association denies lies spread by Armenian side
Effective co-op in field of border security established between Azerbaijan, Iran
Armenian Armed Forces shell Azerbaijan’s Tartar by using 'Smerch' missiles
Armenia indiscriminately targets civilians - Assistant to Azerbaijani president
Azerbaijanis hold rally in California, condemning Armenian terror (PHOTO)
Azerbaijani compatriots living in Minnesota hold protest rally (PHOTO)
Armenian Armed Forces shelling Azerbaijan's Tartar city, villages
Armenian armed forces shelling Tartar city with artillery, missiles in gross breach of humanitarian ceasefire
Iran's powder detergent production grows
Azerbaijanis in Denmark hold protest rally against Armenian terror (PHOTO)
Turkish embassy in Georgia talks joint energy projects of Georgia, Azerbaijan, Turkey
All news