BAKU, Azerbaijan, Nov. 20
By Elnur Baghishov - Trend:
The domestic production of spare parts worth over $300 million has started in Iran’s automaker industry this Iranian year (began March 21, 2019), Iran’s Minister of Industry, Mine and Trade Reza Rahmani said, Trend reports citing IRIB.
The minister added that by the end of this Iranian year (March 21, 2020), this figure is expected to exceed $400 million.
“By March 21, 2022, it is planned to domestically produce car spare parts worth $1.5 billion,” Rahmani said.
The Iranian minister noted that during the six months of this Iranian year (March 21 – September 22), there was an increase in production in industry, mine and trade. For example, steel production increased by 6.5 percent, steel products - by 9.2 percent, copper - by 15 percent, ceramics - by 6.5 percent, cement - by 5.2 percent, food industry - by 15 percent, glass - by 16-18 percent, glassware - by 16 percent, and tractor manufacture - by 26 percent.
Regarding the problems of manufacturing facilities in Iran, Rahmani said that about 70 percent of the problems are related to the lack of liquidity.
The Iranian minister noted that the devaluation in Iran led to a rise in prices for some mining materials.
“Therefore, Iran’s Ministry of Industry, Mine and Trade is trying to sell raw materials to a local producer at cheaper prices than imported raw materials,” Rahmani said.