Iran seeking new car making hub with European consortium

Business Materials 9 January 2016 16:50 (UTC +04:00)

Tehran, Iran, January 9

By Mehdi Sepahvand -- Trend:

Iran is going to launch a new car making hub in the thriving Chabahar Free Zone, said Hamed Ali Mobaraki, CEO of the free zone.

Although a number of Asian and European countries have announced ready to cooperation on the project, the latest talks were held with an Iranian-European consortium, he added, ILNA news agency reported January 9.

"We spread red carpet before Iranian and foreign investors. We welcome new investment and we have seen huge increase in coming trade delegations after talks with the 5+1 group," he said.

Iran Khodro and Saipa are currently the to major car manufacturers in Iran, with the first producing mostly Peugeot products and altered versions, while the second mostly producing Pride, a model of Ford originally produced in the 1990s.

The talks with the group 5+1 (the US, UK, France, Russia, China, and Germany) have led to a comprehensive deal which is expected to remove sanctions on Iran and open the country to international business.