Economy, Business And Markets

Economic Boom in Chabahar

Economic Boom  in ChabaharEconomic Boom  in Chabahar

Launching steel plants in the southeastern province of Sistan and Baluchestan will help local economy grow, said Hamed Ali Mobaraki, head of the Chabahar Free Trade and Industrial Zone (CFTIZ). “Pioneer industries like steel will create jobs, boost trade and help bring economic stability in the long run,” Fooladnews quoted Mobaraki as saying. A giant steel plant is to be launched in the zone with a production capacity of 3 million tons per year. Regarding other businesses that might enter the zone, he said that the region will experience a drastic change as soon as a ‘3rd Auto Manufacturing Pole’ starts operation in Chabahar. The ‘3rd Auto Manufacturing Pole’ refers to a plan offered by the government that seeks to improve competitiveness in Iran’s car-making industry, which is mainly dominated by two giants Iran Khodro and Saipa, through introduction of a third rival group.