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TEHRAN, November 3. /TASS/. Leading Iranian vehicle manufacturer Iran Khodro Company (IKCO) announced its plans to return to Syria and restore its sites, Iran’s FARS news agency said on Tuesday.
Iran Khodro 's Deputy CEO for Export Saeed Tafazzoli said the company exported about 100 vehicles to Syria just recently.
In his words, the IKCO and its Syrian partner Siamco reached an agreement to restore their joint car-manufacturing site near the Syria's capital Damascus.
"Based on the agreement, IKCO would stop the production of Samand and put its focus on new vehicles of Soren, Runna and even Dena," he said.
Siamco is Iran Khodro 's largest site abroad which used to produce a new vehicle dubbed "Sham" before the beginning of unrest in Syria back in 2011.
Tafazzoli said based on a free trade agreement between Tehran and Damascus, Iran Khodro enjoys a relatively high competitive advantage over other car manufactures in Syria. He noted that IKCO is set to export 600 vehicles to Syria and about 500 to Lebanon by the end of the year.
The IKCO was founded in 1962 and it is considered to be one of the major car manufacturers in the Middle East. The company produces more than one million vehicles a year.