Domestic Economy

20 Industrial Projects Inaugurated in Aras FTZ

20 Industrial Projects Inaugurated in Aras FTZ
20 Industrial Projects Inaugurated in Aras FTZ

President Hassan Rouhani inaugurated 20 industrial projects in Aras Free Trade and Industrial Zone located in West Azarbaijan Province via videoconference on Monday. 
Investments worth 9,277 billion rials ($37.4 million) have been made by the private sector in these projects, which are expected to add 669 jobs, IRNA reported.
Situated in northwest Iran bordering Armenia, Azerbaijan and the semi-autonomous Nakhichevan region, Aras is the main gateway to Iran from the Commonwealth of Independent States.
These projects include Phase II of Azarabadgan Aras Steel Complex worth 2,550 billion rials ($10.28 million) with a production capacity of 70,000 tons of steel ingot, which have created 72 jobs. 
Also, Phase I of Aras Media Shetab Electronic Company with a capacity of assembling 40,000 air-conditioners and 6,000 compression chillers was inaugurated. The project is worth 1,180 billion rials ($4.75 million) and currently employs 15. 
Deniz tourist accommodation complex worth 1,120 billion rials ($4.51 million) constructed over an area of 16,800 square meters was also launched. It will create 144 jobs.
The production line of Aras Khodro Diesel Company’s automatic pick-ups with an annual capacity of 160 vehicles was also launched. Seventy jobs will be added, thanks to the investment of 1,040 billion rials ($4.19 million).

Add new comment

Read our comment policy before posting your viewpoints