December 19, 2016 / 6:25 AM / 9 months ago

Turkey's Otokar says signs licence deal with Iran's OGHAB for exports

ISTANBUL, Dec 19 (Reuters) - Turkish commercial vehicle maker Otokar said on Monday it had signed a technology and licence deal with Iran’s OGHAB concerning the export and sale of its Navigo buses.

In a statement to the Istanbul stock exchange, Otokar said the deal covered a three-year period with an option to extend by two years and said the deal could generate revenues of around 50 million lira ($14 million) annually. ($1 = 3.4963 liras) (Writing by Daren Butler; Editing by David Dolan)

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