Iranian bank |
Iranian bank to fund NIORDC’s project for manufacturing dual-fuel cars ۲۴ آذر ۱۳۹۸

Iranian bank to fund NIORDC’s project for manufacturing dual-fuel cars

Iranian bank to fund NIORDC’s project for manufacturing dual-fuel carsTEHRAN – Iran’s Mellat Bank has signed a memorandum of understanding (MOU) with the National Iranian Oil Refining and Distribution Company (NIORDC) to fund manufacturing dual-fuel vehicles for the country’s public transportation fleet, IRNA reported.
The MOU was signed by the Managing Director of the National Iranian Oil Products Distribution Company (NIOPDC) Amir Vakilzadeh and Managing Director of Mellat Bank Mohammad Bigdeli on Sunday in Tehran.
The signing ceremony was attended by senior officials including the Oil Minister Bijan Namdar Zanganeh, the Head of Institute of Standards and Industrial Research of Iran (ISIRI) Nayereh Pirouzbakht and NIORDC Head Alireza Sadeqabadi.
Based on the MOU the bank will allocate 65 trillion rials (about $1.54 billion) to add 1.46 million dual-fuel vehicles to the country’s public transportation fleet.
Last week, NIORDC and Iran’s state-owned Iran Khodro Company (IKCO) signed..