By John Lee.
Tehran Times reports that Peugeot will try to make Iran its manufacturing hub in the Middle East and Africa.
Jean Christophe Quemard, Executive Vice-President of Middle East and Africa, said Peugeot plans to offer 30 percent of its joint products with Iran Khordo Company (IKCO) in markets across the region, adding:
“After two years of negotiations, we have reached satisfactory conclusions with IKCO, and all the expectations of the Iranian Ministry of Industry have been fully met.”
The Peugeot-IKCO car-manufacturing company (IKAP) will make €400 million within the five next years, “and by the time being, each side has primarily fulfilled its commitments”.
(Source: Tehran Times)