Iran, Azerbaijan to set up car joint venture
On the eve of the President Hassan Rouhani’s upcoming visit to Baku, Iranian Minister of Industry, Mines and Trade Mohammad Reza Nematzadeh will arrive in Azerbaijan on August 6 to participate in a ceremony for launching a car joint venture between the two countries.
The minister will attend a groundbreaking ceremony for the construction of the car factory in Azerbaijan’s Neftchala District on Saturday, an informed source told Trend.
Iran Khodro, the giant Iranian automaker, is setting up the venture with Azerbaijan’s Azeurocar to jointly produce four Iranian car brands of Dena, Rana, Soren and Samand.
The joint venture’s annual capacity is estimated to stand at about 10,000 cars.
Rouhani is due in Baku August 7 for trilateral and bilateral talks with President of Azerbaijan Ilham Aliyev and Russian counterpart Vladimir Putin on the issues of interest.
In addition to regional and international issues, the presidents of Iran and Azerbaijan are expected to follow up on the implementation of already reached agreements in commerce, industry, energy, culture, banking, consular facilities and telecommunications, mainly railway transportation.
Iran Khodro is Iran’s major automaker, producing about 600,000 cars a year.
Source: Trend News Agency