SAIPA Hands Over Bonro Factory to Renault

Reporting "Asre Khodro", Carmaker SAIPA has ultimately transferred ownership of its Bonro production plant in Saveh, 100km southwest of Tehran, to Renault, head of the Industrial Development and Renovation Organization of Iran announced.

“As per the trilateral deal between Renault, IDRO and Negin Khodro, the Bonro production facility has been handed over to the French car company,” IDRO chief Mansour Moazemi was quoted as saying by the Persian-language Donya-e-Eqtesad, the sister publication of the Financial Tribune. Renault was not available for comment.

The French automotive giant signed a €660-million agreement with IDRO and Negin Khodro last August according to which IDRO was to handover the factory in Saveh to Renault.

Source: Financial Tribune