UPDATE 1-Oman fund, Iran's Khodro sign MoU for $200 mln auto venture

January 27, 2016 12:46 PM

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MUSCAT Jan 27 An Omani sovereign wealth fund has signed an understanding with Iran's biggest auto maker, Iran Khodro Industrial Group, to study a proposal for a $200 million auto plant in Oman, a fund official said on Wednesday.

The memorandum of understanding is one of the first signed between a major Iranian company and a Gulf Arab state since international sanctions against Iran were lifted earlier this month. Traditionally, Oman has had closer ties to Iran than its Arab neighbours.

Also read: Shell Expected to Sign Iran Oil Deal Despite Uncertainty Over Trump

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