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EghtesadOnline: Austria’s ABL is in a joint venture with an Iranian company (unnamed) to produce fuel-efficient car engines, said Industries Minister Mohammad Reza Nematzadeh.

“ABL research center and an Iranian firm specialized in designing car engines signed a memorandum last year, resulting in a prototype of the fuel-efficient car engine that will be unveiled soon,” Nematzadeh was quoted as saying by Mehr News Agency. He did not say whether the domestic car engine company is a subsidiary of the two major auto producers IKCO or SAIPA.

The minister, speaking on the sidelines of a meeting with Austrian Federal Finance Minister, Hans Jorg Schelling, who this week headed a delegation of financial and economic officials to Iran, said mass production of the fuel-efficient engines would commence in two years.

The production site is under construction in Qazvin Province – in northern Iran – he said, noting “a three-cylinder engine will be used in a future vehicle” to reduce fuel consumption and help protect the environment. Name of the “future vehicle” and other details were not available, Financial Tribune reported.

Negotiations have been held with the Association of the Austrian Vehicle Industry to import auto parts for mass production.

Similar talks have also been held with Germany to manufacture Euro-6 engines.

Mohammad Reza Nematzadeh Iran-Austria cooperation Iran Efficient Engines ABL Austria’s ABL Iran fuel-efficient car engines