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Turkish firm to sell buses to Iran

TEHRAN, December 21, 2016

Otokar, a major automotive manufacturer in Turkey, recently signed a technology and license deal with an Iranian company on the export and sale of its Navigo buses, said a report.

The Otokar agreement with Iran's Afshan Industrial and Manufacturing Company (OGHAB) covered a three-year period with an option to extend by two years, added the Iran Daily News report.

Otokar further claimed that the deal could generate around $14 million annually.

Otokar is set to export Navigo buses as CKD to OGHAB to be mounted in Iran.

The mounted vehicles will then be sold and marketed by OGHAB as Otokar brand.

Based on the agreement, for the periods after the first year of the contract, a minimum of 500 vehicles will be secured on the condition that the vehicle complies with local legal requirements, added the report.




Tags: | export | Iran | Turkey | buses |

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