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Renault Pars is an Iranian joint venture established in 2004 and owned by Renault and Iran's Industrial Development Renovation Organisation (IDRO). The company is in charge of managing the assembly of CKD Renault cars by local manufacturers Iran Khodro and Iran Saipa's Pars Khodro. Renault cars were manufactured in Iran as early as December 1976, when a local company started the production of the Renault 5. However, several restrictions made difficult for Renault to manufacture locally. The restrictions were reduced in the 1990s and Iran Saipa produced various Renault cars, including the 5 and the 21. On 24 March 2004, Renault, IDRO and the Presidents of Iran Khodro and Saipa signed the agreement which established Renault Pars. The company organizes the assembly of imported CKD cars, but the engines are produced locally.