TEHRAN, Iran, Aug. 18
Trend:
Deputy Minister of Industry, Mines and Trade announced launching projects worth $952 million in the automotive industry in cooperation with military and knowledge-based companies.
"The ministry is trying to use all the existing capacities for domestic production mobilization," Mehdi Sadeghi Niaraki said, Trend reports citing IRNA.
"In this regard, the potential of the parts manufacturers, production units, knowledge-based companies, the Ministry of Defense and its subsidiaries, as well as the IRGC aerospace command have been utilized, and several contracts have been signed,” he said. “These companies plan to be active in the fields of production of high-tech parts and systems, especially turbocharged systems, ECU, special sensors and some other products,” said Sadeghi.
The deputy minister added that out of the total amount of about 330 million euros allocated for the contracts signed from last year until today for localization of part and system manufacturing, 60 million euros have been provided to mass production and carmakers.
“Due to the increase in the foreign exchange rate, domestic production of high-tech parts and systems is economically justified,” he noted.
He stressed that the ministry will not allow imports of goods that are produced domestically.