60 percent increase of Iran Khodro’s capital in two phases

According to Khabar Khodro, investors of Iran Khodro have agreed with increasing the capital of this company from 960 to 1530 milliard toman in two phases with receivables and cash.

In first level of increasing capital from 960 to 1200 milliard toman with receivables and cash has approved and decided and appointed and second level of  increasing capital from 1200 to 1530 milliard toman with receivables and cash has delegated to board of management and it was decided that will accomplish within two years.

Extraordinary general meeting of investors of Iran Khodro has hold in Esfand 21 with presence of more than 68 percent of shareholders and after establishment of Board of Administrators in place, the legal inspection report was read.

Administrations Assembly includes Dr. Seidy as chief and Mohammad Rezaei, representative of industrial Development and Renovation Organization of Iran, Sabaghi,  representative of Rena Investment Company as supervisor and Dr Mehri, Iran Khodro's economy deputy as secretary.

The CEO of Iran Khodro in this event has answered the questions of shareholders and has assured them that board of management is preserver of interests of shareholders.

Engineer Hashem Yeke Zare’ about selling the stick of Parsian Bank said, “From seven years ago, Iran Khodro was willing to sell its share in Parsian Bank but it includes 50 percent of the issue and the accomplishment of the decision is dependent to costumers that want to buy this share.”

He mentioned to concentration of financial resources of Iran Khodro on production and industry and added, “In this process production sites of Semnan and Azerbaijan and a property in Esfandiar St. Tehran

have been sold in recent six years.”

He told, “We have negotiated with a foreign partner for developing products and it was decided that Iran Khodro to produce two sedan and SUVs based on the platform which is given to it freely.”

He remarked, “If auto making become a slogan the result would be what we saw in sanctions.”

He admitted, “With power of Iranian parts makers we can partake 20 percent in the market of western partners and 10 percent in the market of Asian partners along with developing national brand and 70 percent of products would be from ourselves.”

Yeke Zare’ said, “Goals of Iran Khodro would not be reached in one day and it takes time.”