Iran gov't issues $129M to manufacturing firms in Semnan Province

Business Materials 20 February 2019 15:55 (UTC +04:00)

Baku, Azerbaijan, Feb. 20

By Elnur Baghishov – Trend:

To support the development of production, 5,44 trillion rials (app. $129 million) were disbursed to production facilities in the Iran’s Semnan Province during the current Iranian year (started March 21, 2018), said Behrouz Asvadi, head of Semnan Province Industry, Mine and Trade Organization, Trend reports referring to Shata News Agency.

Asvadi said that 76 industrial enterprises received 4.96 trillion rials (app. $118 million), and 166 agricultural enterprises received 480 billion rials (about $ 11 million), adding that 242 production facilities were provided with loans in total.

"A decision was made to provide 2.41 trillion rials (app. $57.3 million) worth of loans to 124 production facilities in Semnan Province," he said.

Asvadi said that 335 people will be able to gain employment with this loan.

There are 1,800 manufacturing facilities in Iran’s Semnan Province.