The largest car manufacturer in France, Peugeot Citroen group, has agreed to pay the Islamic Republic of Iran 427 million euros. This amount is intended to compensate for the losses Iran suffered after the departure of the company from the local market.
Until 2012 Peugeot Citroen was the leader of sales in the country. In Iran sold 10% of all of these marks. However, due to international sanctions, the company terminated its cooperation with Tehran, closing local businesses.
It should be noted that most compensation would be paid not in cash and will be irrevocable loan to Finance new projects. So, it is planned to create joint ventures with leading Iranian automaker «Khodro».
The new plants will produce cars of the latest models. Also will be set free spare parts for cars that are already travelling on the Iranian roads. These cars are about four million.