BAKU, Azerbaijan, Nov. 26
By Elnur Baghishov - Trend:
The second phase of the textile factory in Iran’s Ardabil province will be commissioned over the next eight months, said Governor General of Ardabil province Akbar Behnamjoo while inspecting the factory, Trend reports referring to the province’s website.
Behnamjoo said that 1,500 people will be employed once the second phase is launched, adding that the project’s total investment is 2.2 trillion rials (about $52.3 million).
“Some 1.2 trillion rials (about $28.5 million) of this volume will be provided via investors, and 1 trillion rials (about $23.8 million) will be provided via the loan of Iran’s Bank of Industry and Mine,” the governor general noted.
Behnamjoo said that the first phase of the factory will be commissioned soon and 250 people will be employed.
Ardabil Textile Factory was launched in 2014. Cotton yarn and fabrics are produced at this factory.