Baku, Azerbaijan, Feb. 5
By Fatih Karimov – Trend:
Iran will establish an automatic gearbox producing plant for the first time with a Belgium company’s participation, Mansour Moazzami, head of Iran’s Industrial Development and Renovation Organization (IDRO), said.
A Belgium firm has supplied 80 percent of assets for establishing the factory, which will be Iran’s first continuously variable transmission (CVT) manufacturing plant, Moazzami said, the Iranian Industry, Mine, and Trade Ministry’s SHATA news website reported.
The construction operations of the plant will start in coming days in Zanjan, north-western Iran, he added.
Earlier Fardad Daliri, an official with IDRO said that Punch Powertrain, an independent full-system supplier of fuel-efficient transmissions with bases in Belgium and the Netherlands, is the project’s foreign partner.
Under the deal, 160,000 CVT automatic gearboxes will be manufactured annually in the factory, he said.