Economy, Domestic Economy
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Turkish Textile Company Launches 2nd Production Phase in Tabriz

Domestic Economy Desk
Minister of Industries, Mining and Trade Mohammad Shariatmadari (C) inaugurated the second production phase of Parla Textile Company in Tabriz on April 24.Minister of Industries, Mining and Trade Mohammad Shariatmadari (C) inaugurated the second production phase of Parla Textile Company in Tabriz on April 24.

The second production phase of Parla Textile Company was inaugurated by Minister of Industries, Mining and Trade Mohammad Shariatmadari last week.
Located in Tabriz, Parla Textile Company operates under the aegis of a major Turkish brand, whose name was withheld due to company policy.
In an interview with Financial Tribune, Ahmad Seyyedi, the Iranian company’s administrative deputy, explained that the launch of the first production phase dates back to the fiscal March 2008-9 when the Turkish side made an investment of $25 million and created 700 jobs. 
The Turkish company set up a production line and transferred equipment and machinery with the support of East Azarbaijan Foreign Investment Industrial Estate Company.
Speaking about reasons behind the Turkish company’s move into Iran, Seyyedi said they had exports to Iran before the establishment of Parla and incurred a great deal of expenses because of duties, customs clearance, transportation and such. 
“They realized that energy costs are considerably lower than those in Turkey, which could eventually lower end prices,” he said.

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