Two Iranian companies and a Dutch company have agreed to set up a factory to produce color TV in the island of Qeshm by the end of the current Iranian year (March 20).
According to IRIB, the project manager Saeed Nickravesh said the assembly line has been installed and "with first material arriving soon the production is set to start."
Total capital investment hits Rls 10 billion with the production expected to top 500 sets per day under the license from the Dutch giant "Phillips."
Under the agreement, one-third of the production will be sold to the domestic market.
Nickravesh said the production expenses in Qeshm is competitive with world markets costs, adding that the direct employment in the project will be 80.
© 2004 Mena Report (www.menareport.com)
