MUMBAI, May 30 (Reuters) - Auto parts maker Pricol Ltd. said on Wednesday its board approved setting up an equal joint venture in Iran to make instrument clusters and speed sensors.
The JV with Iran's Nava Khodro Plastic Co. would have a share capital of $2.5 million and the estimated investment in the first three years would be $8.5 million, Pricol said in a statement.