BAKU, Azerbaijan, Jan. 28
By Elnur Baghishov - Trend:
Ten industrial and mining companies with 6.7 trillion (roughly $159 million) of investments will be commissioned in Iran's Semnan province on the occasion of the 41st anniversary of the Iranian Revolution between Feb. 1-11, Chairman of Semnan Industry, Mine and Trade Organization Bahrouz Asvadi told reporters, Trend reports via IRNA.
About 900 people will be provided with jobs upon the launch of these projects, Bahrouz Asvadi said.
A cotton yarn factory, that is expected to employ 350 people, will be commissioned in the province with funds in the amount of three trillion rials (roughly $71.4 million), the chairman said.
Also, a factory for the production of various fabrics will be commissioned in the province with funds in the amount of 2.5 trillion rials (roughly $59.5 million) and this factory will provide 250 people with jobs, the chairman said.
According to the chairman, a steel company will be established in the province with 450 billion rials (roughly $10.7 million) of investments. The company's plant will manufacture reinforcing steel and other similar products while employing 70 people, he added.
Moreover, a copper cathode producing company will be established in the province with 250 billion rials (roughly $5.9 million) of funds with the participation of a foreign investor and the company's plant will provide 70 people with jobs, Bahrouz Asvadi said.
There about 1,820 manufacturing enterprises in Iran's Semnan province, which is located in the country's north.