Investments in major greenfield industrial projects stood at 21 trillion rials ($90 million), while major brownfield projects received a total of 7.8 trillion rials ($33 million) during the first two months of the current Iranian year (March 20-May 20).
The Ministry of Industries, Mining and Trade has defined major greenfield and brownfield industrial projects in its latest industrial investment report as ones in which more than 600 billion rials ($2.5 million) and 400 billion rials ($1.7 million) have been invested respectively.
The report lists six major greenfield projects for which operating licenses were issued during the two-month period, which are expected to create a total of 2,247 jobs.
The highest amount of investment at 9.67 trillion rials ($41 million), went to Lavan Oil Refining Company that produces coke and oil derivatives. The project is expected to generate 1,380 jobs.
Next is Pars Isotope Company with 4.83 trillion rials ($20.56 million) worth of investments, Tose-e Bolour Kaveh Industrial Group with 2.36 trillion rials ($10.04 million), Mapna Boiler engineering and Manufacturing Company with 1.72 trillion rials ($7.33 million), Amir Sangan Parsian Mineral Group with 1.68 trillion rials ($7.16 million) and Nam Ceramic Peyman Company with 796.1 billion rials ($3.38 million), which are estimated to create 277, 197, 43, 150 and 200 jobs respectively.
There are five projects on the ministry’s list under major brownfield projects for which operating licenses were issued during the period under review. These are expected to generate 240 jobs.
The highest volume of investment (45.6 trillion rials or $19.4 million) went to FNT Steel Company, a producer of essential metals. This project is expected to create 162 jobs.
Other major brownfield projects listed by the Industries Ministry include Novin Zarf Sabah Company with 820 billion rials ($3.49 million), Zarkam Industrial and Research Company with 671.9 billion rials ($2.86 million) and Chi-Chast Industrial Group with 420.1 billion rials ($1.78 million), estimated to create 20, 15 and zero jobs respectively.
Industrial Permits Under Review
According to the report, more than 485 trillion rials ($1.94 billion) worth of investments are expected to be made in industrial units for which establishment permits were issued, while projects with operating licenses are estimated to have received 50.77 trillion rials ($218 million) in the first two months of the current Iranian year (March 20-May 20).
Investment volumes in units with establishment permits and operating licenses show respective growth rates of 22.3% and 8.6% compared with the similar period of last year, the latest report released by the Ministry of Industries, Mining and Trade shows.
A total of 4,622 establishment permits were issued over the two months under review, registering a 26.1% year-on-year growth. These projects are expected to create 100,461 jobs, which are 23.4% more compared with last year's corresponding period.
Yazd Province with 545, Khorasan Razavi Province with 430 and East Azarbaijan with 256 had the largest share of establishment permits issued during the period.
Khuzestan Province, with close to 58.56 trillion rials ($250 million) worth of expected investments for 166 establishment permits are projected to attract the highest amount of investments.
The number of establishment permits issued for industrial units located in free trade and special economic zones decreased by 68.8% to 15.
Investments worth 3.13 trillion rials ($13.3 million) are expected to be made in these projects to generate 884 jobs, registering a 93.8% and 56.4% YOY decline respectively.
The field of “other non-metal minerals” saw the highest number of establishment permits (562) and the highest number of jobs was generated in the field of food and beverage (11,949).
The highest amount of investment in these units is expected to be made in projects related to essential metals production with 80.16 trillion rials ($341 million). The volume accounts for 16.5% of all investments to be made in projects, for which establishment permits were issued over the period.
A total of 704 operating licenses were issued during the period under review, which shows a 17.5% YOY fall. These projects are expected to create 11,893 jobs, 16.9% less compared with last year's corresponding period.
Khorasan Razavi Province with 64, East Azarbaijan Province with 57 and Isfahan Province with 53 had the largest share of all operating licenses issued during the two months.
East Azarbaijan Province, with more than 6.93 trillion rials ($29.4 million), attracted the highest volume of estimated investment in projects with operating licenses.
The number of operating licenses issued for industrial projects located in free trade and special economic zones stood at 25, indicating a 43.2% decline YOY. More than 10.45 trillion rials ($44.46 million) worth of investments are estimated to have been made in these projects to create 1,996 jobs, registering a 2.2% growth and 6.9% decline respectively YOY.
The field of chemical production saw the highest number of operating licenses, namely 130. The same field created the highest number of jobs (1,864) over the two-month period.
The highest volume of investments in this regard were made in projects related to the production of coke and oil derivatives (10.46 trillion rials or $44.5 million), accounting for 20.6% of all investments made in industrial units for which operating licenses were issued.
The number of greenfield projects with operating licenses stood at 335, some nine of which were for those located in free trade and special economic zones. The remaining 369 permits were issued for the operation of brownfield projects, 16 of which were located in FTZs and special economic zones.
