Azerbaijan, Baku, July 15/ Trend R.Zamanov/
The construction operation of an aluminium ingot production complex was officially started at Iran's Aras Free Zone, located in the North-western province of East Azarbaijan.
The project will come on stream at the cost of 405 billion rials (some $12.27 million based on the USD price in the free market), Donya-e-eqtesad News Daily reported.
Once the complex comes on stream over 300 job opportunities would be created.
The private sector is carrying out the project.
The first phase of the complex with the annual production capacity of 100,000 tons of aluminium ingot is projected to come on stream in 8 months. The second phase will also come on stream at the cost of 120 billion rials (some $3.63 million based on the USD price in the free market) and will double the complex's production capacity.
The Aras Free Zone measures 97 km². It is located 137 km from Tabriz, one of the major academic and industrial hubs of Iran, and 761 km from the capital city Tehran. Jolfa, the center of the Zone, has a century old background in international commercial and customs activities.