TEHRAN (Tasnim) � Possessing the technical know-how to do maintenance, repair and overhaul tasks in the aviation industry, Iran is going to sign a number of contracts with other countries to overhaul their planes, head of Iran�s National Space Center said.
Speaking at a press conference in Tehran on Sunday, Manouchehr Manteqi said several �international contracts� will be signed by the end of the current Iranian year (March 2016) to overhaul foreign planes inside the country.

Highlighting Iran�s good capabilities in the overhaul of planes, he stressed that the country should make the most of such a lucrative industry in the region.

According to Manteqi, an annual sum of $5 billion is spent in the Middle East for aircraft overhaul and fundamental repairs.

He noted that 42 percent of revenues in the aviation industry is brought by the overhaul of planes.

Earlier in June, an official with Iran�s Vice-Presidency for Science and Technology highlighted the country�s �competitive advantage� in the aircraft maintenance market in the Middle East, given the low prices it charges, saying, �Iran can be a hub for the overhaul of various aircraft in the region.�

Iran has become one of only a handful of countries capable of performing the servicing and overhaul of its fleet of airplanes, both military and civilian.

By Tasnim News Agency