TEHRAN - Industrial Development and Renovation Organization of Iran (IDRO) signed a memorandum of understating (MOU) with the Chinese company Sunshine and Konda Energy from Hong Kong to establish a joint company for manufacturing solar panels.

As IRNA reported, IDRO will have a 30-percent share from the company while the rest will be equally divided. IDIRO will proceed to registering after finalizing the company statute in less than a month.

EF/MA