Iran near deal with Renault on auto joint venture

Newswire

TEHRAN, Sept 28 (Reuters) - Iran said it will sign a joint-venture deal with French automaker Renault by the end of October to produce a low-priced passenger car to replace the Paykan, a top-selling but outdated local favourite. Reza Veisseh, president of Iran's Industrial Development and Renovation Organisation (IDRO), said the joint-venture to produce the "L-90" model would start operating in mid-2004, the official IRNA news agency reported over the weekend. State-owned IRDO, a major ...

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