Agreement Signed to Set Up Paper Mill in Khuzestan

A partnership agreement for setting up Khuzestan Green Paper Mill was signed between Setad, the office for executing the decrees of Imam Khomeini in helping the underprivileged, and a bank consortium, including Parsian Bank, Bank Sepah, Bank Melli Iran and the Bank of Industry and Mine, in Tehran on Tuesday. 
“The factory, scheduled to be completed in three years in Shadegan, Khuzestan Province, will have the capacity to produce 240,000 tons of paper per year, which is sufficient to meet 38% of the country’s demand for paper,” Mohammad Mokhber, the president of Setad, told IRIB News.
“With an investment of $467 million, a total of $285 million of the country’s foreign currency reserves will be saved once the factory becomes fully operational. A total of 1,700 jobs will be created for locals of the underdeveloped city of Shadegan.”