Iran's Zanjan province flourishing thanks to foreign investments
Baku, Azerbaijan, Dec. 27
By Elnur Baghishov - Trend:
Various products such as steel, cellulose, cosmetics and detergents, tobacco products are being manufactured with help of foreign investments in the Iranian province of Zanjan,the province's Deputy Chairman of the Organization of Industry, Mine and Trade Ali Kalantari said, Trend reports via IRNA.
He went on to add that Irico Abhar and Alborz NAB Arash Steel companies are being established to produce steel ingots with electric arc furnace, through 10 trillion rials (about $238 million) worth of investments from an Iranian investor living in Turkey.
Meanwhile, Zanjan Andia Steel Company is producing cast iron ingots thanks to Chinese investment worth 5.6 trillion rials ($133 million), Kalantari said.
"Also, Silk Road Steel and Iron Company which will be melting iron into steel, is being created with help of Chinese investment of 3.73 trillion rials (about $88.8 million). Another example is Pars Hayat Company that is operating in the Abhar region, producing cellulose and cosmetic products - though Turkish investment of 2.9 trillion rials (about $69 million)," he added.
Kalantari added that Fooka Sanat Saba Company operates with help of German investment of approximately 260 billion rials (approximately $6.19 million) in the recovery of ordinary cars and metal wastes.
Meanwhile, Pishro Madankaran Company is also being established for production of copper concentrate, thanks to the Chinese investment of 110 billion rials (about $2.61 million).
Kalantari went on to say that another company, JTI Company, has been commissioned last year with a capacity of 30 billion cigarettes per year, with an investment from Japan worth 7.69 trillion rials (about $ 183 million).
"In total, foreign investment in our province is 32.5 trillion rials (about $775 million)," he said.