A leading Iran based car producer, Iran Khodro Industrial Group which is famous for manufacturing vehicles like Samand, Peugeot and Renault, is planning to set up a new factory in Oman to target the African markets.
The plan was discussed during a recent meeting in Tehran between the CEO of IKCO, Hashem Yekke-Zare and the CEO of Oman Investment Fund, Hassan Ahmed al-Nabhani. However, IKCO is yet to visit Oman to do a market research. If necessary funds are provided, the assembly line can be established in the country to cater the regional markets.
Hashem Yekke-Zare talking about the plan explained that in the start 20,000 cars will be made per year out of which 5,000 will be extended to Oman, while the rest will serve the automotive markets of neighboring countries such as Yemen, Sudan, Ethiopia and Eritrea etc.
He further mentioned that his company only requires funding from the Oman Investment Fund, while the engineering equipment and facilities will be provided by us.