Iran in $200m Deal to Make Minibuses in Egypt-Report
TEHRAN, Nov 2 (Reuters) - Iranian auto maker Zamyad will make 1,000
minibuses in Egypt in a deal worth $200 million, the official IRNA news
agency reported on Thursday. Zamyad has set up a production facility
in Eqypt and will produce the vehicles over five years, IRNA said.
The move is the latest development in a slowly improving relationship
between the two countries.
Iran broke ties with Egypt after the 1979 Islamic revolution, when the
late Ayatollah Ruhollah Khomeini denounced Egypt's president Anwar Sadat
for signing the Camp David peace accords with Israel.
But the two countries have slowly bettered relations over the past few
years. A group of influential Iranian politicians recently created an Iran-Egypt
friendship society but hardliners in both countries are wary of improved
ties.
A gang of extremists attacked the offices of the society in Tehran earlier
this year and opponents in Cairo are also pushing for a delay in the full
restoration of ties.
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