Iran to be Peugeot’s Manufacturing Hub in ME, Africa

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)

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