Under the 50-50 joint venture, the two carmakers will produce Peugeot 2008 crossover, 208 super and 301 compact, Tasnim News Agency quoted an unnamed auto industry official as saying Sunday.
Iran Khodro and Peugeot will add two other models to their production line later, with 50 percent of production to be undertaken in Iran, the official added.
Iran was Peugeot’s second largest market before the French automaker left the country in breach of contract, idling a massive assembly line which manufactured vehicles from kits of parts.
The French manufacture faces a backlash from its abrupt pullout from Iran in 2012.
Last November, Iran Khodro Managing Director Hashem Yekke-Zare said Peugeot had submitted to all conditions demanded by his company for cooperation. ‘Setting up a 50-50 joint venture, turning Iran to the regional center for Peugeot exports and transferring technology as well as investment were Iran’s conditions for cooperation which the company has accepted,’ he said.
The company reportedly plans to sell 400,000 cars in Iran a year. Before slamming the door in Iran Khodro’s face in 2012, the two partners sold 473,000 units.
Peugeot quit Iran under political pressure following a partnership agreement with General Motors which the US company later terminated.
Iran is the Middle East’s largest car market and car making is the country’s biggest industry after oil. According to IHS Automotive estimates, Iran’s auto market is on course to average 1.7 million units in annual sales.
Western and Asian manufacturers from Germany, Italy, Japan and South Korea are exploring a return and the competition is already getting intense for a share of the upside.

The Federal Agency for Fishery (Rosrybolovstvo) said that Russian Minister of Agriculture of the Russian Federation Alexander Tkachev in his talks with Iranian Minister of Agricultural Jihad in Tehran reviewed ways to develop joint venture investment in seafood industry of Russia.
Head of Rosrybolovstvo Rufat Hasanov said that Iran is ready for contributing to Russian aquaculture projects.
He said that as per an agreement reached between the two sides, Iranian students will be trained in Russian specialized educational institutes.

Platts survey said oil production from the Organization of the Petroleum Exporting Countries (OPEC) fell by 130,000 barrels per day (b/d) in December on lower volumes from Iraq, Nigeria and Saudi Arabia.

‘Collapsing oil prices and oversupply used to be a recipe for, at the very least, an emergency OPEC meeting,’ said Margaret McQuaile, senior correspondent for Platts, a leading global provider of energy and commodities information. ‘That is no longer the case, however, and Saudi Arabia and its (Persian) Gulf allies appear to be as committed to their laissez-faire production policy as they ever were. Without the support of these countries for an emergency meeting, it seems unlikely that one will take place – in the very short term, at any rate.’

Volumes from kingpin producer Saudi Arabia dipped last month by 50,000 b/d to 10.1 million b/d. The kingdom is facing an unprecedented budget crunch amid the steep drop in oil prices since mid-2014. Despite sliding oil prices, however, it has given no indication that it is ready to abandon the market share strategy that it persuaded OPEC to adopt in November 2014. Indeed, although the December volume was down from that of November, Saudi output remains above the 10 million b/d it has consistently exceeded since March last year.

The new budget, King Salman’s first since taking the throne in January 2015, forecasts spending of nearly $224 billion, only a small reduction in planned spending compared with 2015. In a research note following the government’s announcement in December, Riyadh-based Jadwa Investments estimated the budget to be based on an average crude oil export price of $40.30/b and production of 10.2 million b/d.

Iraqi output fell by 50,000 b/d month on month, to 4.25 million b/d from an adjusted November volume of 4.3 million b/d.

Indonesia, which has rejoined OPEC, is estimated to have produced some 700,000 b/d of crude in December.

It added that Iranian crude output and exports are expected to rise in the coming months.

It noted that Iran has said it plans to double its oil exports to 2 million b/d within six months of the removal of sanctions.

He made the remarks in a meeting between Polish economic and trade delegation with Alborz province Chamber of Commerce.
Gojlo said that Poland has economic capabilities, especially in the field of small and medium industries.
Directors of such industrial units have come to Iran to develop cooperation with Alborz province private sector on industrial, trade and commercial fields.
He said that if the two countries have enough acquaintances with capabilities and needs of one another they would utilize capabilities to advance economic development.
A member of Polish delegation said that setting up direct flight between Tehran and Warsaw would help facilitate trade between the two countries.
In the meantime, Iranian and Poland’s Chambers of Commerce signed an agreement on bilateral cooperation at the end of the meeting.

Talking to IRNA on Monday, the expert who wished to remain anonymous, said that given that many prosperous entrepreneurs are busy working in Tehran, the ground is quite apt for activities of small and medium size Italian companies in Iran.

He said Iran enjoys extensive potentials for economic activities, noting that many Italian companies are keen to work in Iran.

Iran needs to amend and improve its financial system to pave the way for presence of foreign companies in the country.

60 production and service companies from Italy took part in a recent exclusive exhibition in Tehran.

Italy retained its economic relations with Iran during years of sanctions.

Referring to the country’s aircraft demand, Akhoundi asserted “we require both short-range and long-range aircrafts to meet domestic and international needs.”
He referred to the reaching of an agreement to buy 114 civilian aircraft from Airbus Group SE; “the contract will be inked soon and all the arriving aircrafts would be brand-new.”
“We possess a total of 256 aircrafts in the country of which only 150 are active,” said the road minister asserting “we aim to provide 100 short-range airplanes for Iranian airports as well as 400 medium- and long-range planes.”
“Talks have been conducted with Boeing Company while negotiations are underway with other manufacturers as well,” he underlined, Iran Daily reported.
Akhoundi also noted that having direct flights between Iran and the US requires certain negotiations which will be carried out by the Iranian Civil Aviation Organization.
Emphasizing that the security of Iran’s air will be fully guaranteed, the minister concluded “renovation of the aviation fleet entails modernization of firms and companies for which the eager airliners are supposed to possess the minimum amount of capital.”

Speaking to reporters on the sidelines of a gathering of non-governmental entrepreneurs, Seif said that the process of opening LCs began on Monday.

Noting that the allocated LCs are mainly due to provide the manufactures with the needed raw material, Seif predicted that the new scheme will give a boost to production.

Referring to unblocking of $32 billion of Iran’s frozen assets following the implementation of Iran nuclear deal and the subsequent lifting of anti-Iran sanctions, Seif said that $28 billion of this amount belongs to CBI and another $4 billion will be changed into Iranian rial to be remitted to the government’s fund.

Jabbarzadeh made the remarks in a meeting with Czech Minister of Industry and Trade Jan Mladek.
He said that East Azarbaijan province’s capacities are widescale and that many efforts were made to achieve advanced technologies in recent years.
Pointing to the history of the province’s cooperation with Czech Republic, he said that implementation of Joint Comprehensive Plan of Action is a good opportunity for promoting economic ties with the European states.
The province boasts of two units of manufacturing buses, Jabbarzadeh said, noting that the province is keen on promoting cooperation with Czech Republic to modernize the units.
He voiced pleasure with cooperation with Czech companies to commission a car manufacturing unit with European brand of Skoda.
The governor general also invited Czech economic activists to get acquainted with the provinces’ various capacities, saying that government of President Hassan Rouhani planned to cut share of oil in annual budget plan.
Mladek, for his part, said that Tabriz Tool Manufacturing Company symbolizes the two countries’ cooperation, hoping that mutual cooperation will improve in the wake of implementation of JCPOA.
The minister said that Czech Republic registered 4.5 percent economic growth last year and that Czech companies are after new markets.
He said that signing cooperation deal in Tehran has paved the way for boosting economic ties.
The Czech minister called for enhanced economic ties based on mutual respect.

Speaking to Shana after a meeting with the visiting Slovak Deputy Prime Minister and Minister of Finance Peter Kazimir, he said that Slovakia has not been a traditional customer of Iranian crude oil but has expressed interest to import gas from Iran.

“Currently, Iran has no plans for exports of gas to Europe and pumping it by pipeline to Europe is not economical,” he said. However he noted that in the mid- or long-term, Iran may export LNG to Europe.

Zamani-Nia explained that the European gas market is over-supplied which has resulted in lower prices and said, “Exports of gas to Europe as a long-term strategy is under consideration of both Iran and European countries.”

He also said that Slovakia is ready for cooperation with Iran in the area of gas storage.

After a meeting with Minister of Women and Child Development of India Maneka Sanjay Gandhi here on Tuesday, he told reporters that development of Chabahar port and investment in Iran’s railways are among the issues of interest for India to work in Iran.
He said that in upcoming days a delegation from India will visit Iran to discuss and exchange views on these fields.
In past years, India had good progresses in the field of renewable energies and joint activities of the two countries in this field could be beneficial for both nations, he added.
Gandhi said that Iran between countries of the region is progressive in the field of renewable energy.
She felicitated Tehran’s praiseworthy hosting of the 15th world Energy Award ceremony and said that the award is endorsed by international organizations such as European Union.
Gandhi underlined commissioning of International Union of Solar Energy in India and said that it is possible to cooperate with other countries for transferring of technology and capital, and development of renewable energies.
Minister of Economic and Finance Ali Tayyebnia and Minister of Foreign Affairs of India signed comprehensive economic cooperation of Iran and India last December.
India after China is the fourth world oil consumer and Iran’s second largest oil customer