|
Peugeot suspended sales in Iran in 2012 when the international
sanctions against the Islamic Republic's nuclear program were
extended to the automobile sector.
In January 2016, following a report by the U.N. International
Atomic Energy Agency (IAEA) certifying that Tehran has met all
its obligations under the nuclear deal with world powers, most
of the UN, U.S. and EU sanctions on Iran were lifted.
In the same month, PSA Peugeot Citroën and Iran's largest
carmaker, Iran-Khodro Company (IKCO) signed a joint venture
agreement to produce latest-generation vehicles in Iran.
"Peugeot's compensation to Iran has been included in the new
contract, but the content of the contract remains confidential,"
Iran's Minister of Industry and Trade, Mohammad Reza Nematzadeh
was quoted as saying by the Tasnim news agency on Saturday.
Peugeot declined to comment on details of the deal but its
spokesman told Reuters that "the deal signed with Iran is a good
and balanced one."
Iranian hardline lawmakers criticized President Hassan Rouhani
for paving the way for a contract with Peugeot when no
compensation was paid.
Based on the agreement between Peugeot and IKCO up to 400
million euros over the next five years will be invested in
manufacturing cars in Iran, according to IKCO's news website,
and the investment will contribute to facilitate the development
of a competitive manufacturing base for producing, launching and
marketing Peugeot 208, 2008 and 301 models, fitted with
latest-generation engines.
Four million Peugeot cars are currently on the roads in Iran.
For Peugeot, the Iranian factory tie up is critical. When it
suspended sales in Iran in 2012 it lost nearly 10 percent of
global deliveries and interrupted a relationship dating back
more than 50 years.
(Reporting by Bozorgmehr Sharafedin, additional reporting by
Sybille de La Hamaide in Paris; Editing by Elaine Hardcastle)
[© 2016 Thomson Reuters. All rights
reserved.] Copyright 2016 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed. |
|
