Financial Tribune - A domestic knowledge-based company has signed cooperation deals collectively worth 600 billion rials ($5.2 million) with several Iranian companies active in the field of aviation industry.

During a tech event held by Iran National Innovation Fund on Saturday in Tehran, Servo Hydraulic Pooya Company (aka ServoHyd), affiliated to Iranian Research Organization for Science and Technology, signed numerous deals with local aviation firms.

According to ServoHyd Managing Director Mohammad Mehdi Izadpanah, the deals are over the sale, repair, design and production of parts and equipment related to aircraft, including fuel nozzles, pneumatic and hydraulic systems, as well as piston engines, INIF's website reported.

"As per the deals, we are set to offer training to employees of Iranian companies in the fields of standardization and reverse engineering techniques," he said.