Baku, Azerbaijan, July 24
By Elnur Baghishov – Trend:
The process of sale of 2 major Iranian carmaking companies (Iran Khodro and Saipa) to the private sector has been initiated, said Iranian Industry, Mining and Trade Minister Reza Rahmani, Trend reports referring to IRNA.
According to him, there are 3 main stages in the sale of said companies.
"The first is that non-production property of these companies in Tehran and other cities should be sold," he said.
Rahmani added that this year (started March 21, 2019) each company must acquire 10 trillion rials (app. $238 million) with property sales and include its liquidity in the production cycle.
The Iranian minister noted that the second stage consists of the sale of companies belonging to said major companies, while the third stage consists of the sale of the major companies themselves.
"These two companies will be sold to the private sector by the end of next year (begins March 21, 2020) the latest," he concluded.