(MENAFN) An Iran-Oman joint venture will manufacture cars in the Sultanate among one year, which will start production of 10,000 cars in the first phase.
Moreover, a joint venture firm will be established and the project will start building, which will need 12 months for constructing assembly unit.
Additionally, an agreement was signed by Iran-based automobile giant, which is the main automobile producer in the Middle East region.
The basic investment for the assembly would be USD 15mn, which will have a capacity to assemble 10,000 units, and will go up to 20,000 units per year.
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