Pricol's JV company at Iran
Auto components major Pricol has informed the Bombay Stock Exchange that the board of directors of the company has approved the setting up of a joint venture company in Iran with Nava Khodro Plastic Company. Pricol and Nava Khodro Plastic Company will hold 50% each in the share capital of the new JV. The new company will manufacture instrument clusters and speed sensors. The share capital of the said company is $25 lakh and the estimated project cost for Phase 1-3 years is $85 lakh.