Iranian Press TV, citing Iran’s Deputy Minister of Industry, Mine and Trade (MIMT), reports that an Iranian carmaker and a private investor in Armenia will team up to launch a car production facility in Armenia

The new site reports that Deputy Minister Alireza Peymanpak, on Saturday, said that the MIMT and Armenia’s ministry of economy have been pursuing the joint project for manufacturing an Iranian car model in Armenia.

“An initial agreement has been reached for setting up a production line for an Iranian-made car in Armenia and a feasibility study is being carried out on the basis of this agreement,” Peymanpak said.

He didn’t reveal the Iranian car model considered for production in Armenia.

IKCO, Iran’s largest carmaker the IKCO, has launched exports of finished cars to Armenia with a pilot shipment of 200 sedans supplied last month.