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Iran to provide Azerbaijan with technology for car manufacturing

Business Materials 21 April 2016 13:08 (UTC +04:00)

Baku, Azerbaijan, Apr. 21

By Farhad Daneshvar - Trend:

Iran's giant auto maker Iran Khodro (IKCO) reached an agreement with Azerbaijan to establish a company for producing the IKCO cars in the Azerbaijani southern city of Neftchala, Saeid Tafazzoli, the company's deputy CEO for export, told Trend Apr. 21.

"Azeurocar will put investment in the project and Iran Khodro will provide the Azerbaijani company with technological know-how, equipment and machinery," said Tafazzoli.

Elaborating on the brands of the cars to be produced in Azerbaijan, the official said that Soren and Samand cars are among the vehicles to be produced in Azerbaijan.

He further expressed hope that the company will be capable of producing commercial vehicles, including busses in the next phase.

According to the official, the amount of the investment will be announced in the future taking into account the volume of the project.

IKCO is Iran's major automaker, producing about 600,000 cars a year.

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