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Iran Khodro in line for bailout funds
- Iran: Tuesday, August 04 - 2009 at 10:21
The Middle East's largest automaker, Iran Khodro Co. (IKCO), has reportedly sunk deeper into the red by approximately $9bn, Iran Daily has reported. The company's debts stood at more than $9bn and its assets at $10bn which may force it into insolvency, Jamshid Imani, IKCO's deputy managing director has said. The government last week approved a $1bn bailout package, some of which is expected to be available within days.
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StaffTuesday, August 04 - 2009 at 10:21 UAE local time (GMT+4)
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