Peugeot to Hold Meeting on Iran This Week: Report
TEHRAN (Tasnim) – French carmaker PSA Peugeot Citroen is expected to hold a board meeting soon to discuss business opportunities in Iran in the wake of the termination of anti-Tehran sanctions, a report said.
A source close to Peugeot said on Monday that the board meeting will be convened on Wednesday, Reuters reported.
Earlier, an official with Iran’s automobile industry said Iran Khodro, the Middle East's biggest carmaker, and Peugeot have inked a provisional agreement worth 500 million euros ($545 million) to jointly produce cars.
According to the terms of the deal, each side will equally invest 250 million euros in the project, he added.
The source went on to say that Peugeot 2008 crossover, 208 supermini and 301 compact cars will be manufactured inside Iran under the 50-50 joint venture.
He added that the agreement is likely to be finalized in the Iranian President Hassan Rouhani’s upcoming visit to France.
President Rouhani now is in Italy. He will head to Paris on January 27 to meet President Francois Hollande.
He also visited the Vatican and met with Pope Francis there.
The Iranian president was scheduled to visit the three European destinations on November 14, but the trip was cancelled following a spate of deadly terror attacks in Paris.