Conclusion of contract for indigenizing 77 automotive parts

TEHRAN, Oct. 05 (MNA) – An official in charge the Ministry of Industry, Mine and Trade for Industrial Affairs Mehdi Sadeghi Niyaraki said on Saturday that 77 important automotive parts in car industry will be indigenized.

For this purpose, a contract has been inked with leading automotive parts manufacturing companies.

Manufacturing the said 77 automotive parts in the country will save $91 million worth of foreign currency, he added.

With the cooperation made between Ministry of Industry, Mine and Trade and domestic parts manufacturers, a number of 77 parts needed in automotive industry have been indigenized, Sadeghi Niyaraki stated.

Also, a contract has been concluded for indigenizing automotive parts with a leading parts manufacturing company, he said, adding, “accordingly, it will save more than €85 million worth of foreign exchange in a year.”

He further noted that nine automotive parts have so far been manufactured, adding, “we are determined to accelerate domestic production of automotive parts in car industry of the country.”

News Code 150829

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