Renault and Iran enter into one of the biggest ever car deals, to produce 150,000 cars
The Dollar Business Bureau French car maker Renault and Iran signed a mega JV on Monday in the presence of the Iranian Industry Minister, Mohammedreza Nematzadeh. The JV could change the tide of the car maker in the oil rich Middle eastern country. Many Western companies have made a beeline to do business in Iran with the lifting of the sanctions. The joint venture was signed between Renault and Industrial Development & Renovation Organization of Iran (IRDO). Renault will be the majority shareholder holding 60% of the shares, with IDRO and another private player Parto Negin Naseh taking up 20% each. The production of the cars will begin in 2018, with both the parties agreeing to set up an engineering and sales centre ...
French cos to pump in euro 8 bn in India
PTI Bullish on India's growth, major French companies will be investing about euro 8 billion in the country in next few years. "Leading French companies will invest some 8 billion euros in Indian market over the few years," French Ambassador to India Alexandre Ziegler said on the sidelines of a CII event here today. French majors had already invested euro 20 billion in the country accounting for the third largest FDI inflow from the European country. In his presentation, the ambassador emphasised that France did not look at India as just a market but as a partner and so it participates strongly in 'Make in India' along with innovation. "There is 25 research and development centers by French companies in India," ...
