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Iran eyes to launch new commercial enterprise in Aras Free Trade-Industrial Zone

Business Materials 6 June 2023 15:01 (UTC +04:00)
Elnur Baghishov
Elnur Baghishov
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BAKU, Azerbaijan, June 6. A new enterprise that will produce various types of biscuits will be put into use in the Aras Free Trade-Industrial Zone within the visit of Iranian President Ebrahim Raisi to East Azerbaijan Province on June 8-9, 2023, Managing Director of Aras Free Trade-Industrial Zone Majid Kiyani said, Trend reports.

The director said that on average, this enterprise can produce 11,000 tons of different biscuits annually. Biscuits produced in the enterprise will be both for domestic consumption and export.

Kiyani added that in total, 1.91 trillion rials (about $45.5 million) has been spent on the establishment of this enterprise, and 157 people will be employed in the enterprise.

“Furthermore, 34 kilometers of the construction of the Jolfa-Marand highway was entrusted to the Aras Free Trade-Industrial Zone. Already construction work on 6 kilometers of that highway has been completed and will be put into use within the framework of the president's visit,” he noted.

According to him, a total of 600 billion rials (about $14.3 million) has been spent on the construction of the mentioned 6 km part. It is planned to complete another 7 kilometers of the road by the end of the current Iranian year (March 19, 2024).

In general, the length of Jolfa-Marand highway is 61 kilometers.

It is expected that a decision will be made on spending 100 trillion rials (about $2.38 billion) by the government, as well as allocating a bank loan of 100 trillion rials (about $2.38 billion) within the framework of the visit of Iranian President Ebrahim Raisi to East Azerbaijan Province.

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