Conclusion of contract for indigenizing 77 automotive parts

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.”