VOL. XLVI

No 44

3-November-2003

PRIVATIZATION

Renault, IDRO Set Up Joint Venture To Produce Cars In Iran

Frances Renault announced on 27 October that it had signed an agreement with Irans state-owned Industrial Development Renovation Organization (IDRO) for the joint production and marketing of Renaults new X90 low-end model, which will be targeting emerging markets. The joint venture will be owned 51% by Renault and 49% by AID, an entity made up of IDRO and Irans two main car makers, Iran Khodro...