Bus maker Ikarus has signed an agreement with Iran for the export of 1,000 buses, one third of its full-year production capacity, although it must adapt to local technical requirements. Ikarus Chairman Gábor Széles was among a 20-strong business delegation accompanying Minister for National Economy Mihály Varga on an official visit to Iran at the weekend.
Following the visit, Varga told national news agency MTI that several bilateral agreements have been signed, including a deal between Hungarian bus maker Ikarus and Iranian partners on the production and delivery of about 1,000 vehicles to Iran.
Magyar Eximbank has opened a USD 162 million credit line to support such partnerships, Varga added.