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Investments made in Iran's Aras Free Trade Industrial Zone

Finance Materials 3 May 2021 00:12 (UTC +04:00)
Investments made in Iran's Aras Free Trade Industrial Zone

BAKU, Azerbaijan, May 3

By Elnur Baghishov – Trend:

As many as 93 projects were approved for investments worth 64.3 trillion rials (about $1.5 billion) of local and foreign investments in the Aras Free Trade Industrial Zone in the East Azerbaijan Province (northwestern Iran) over last Iranian year (from March 20, 2020 through March 20, 2021), Deputy Chairman of the Aras Free Trade Industrial Zone Safar Shasafand told journalists, Trend reports citing the IRNA.

The deputy chairman stressed that of these, 74 projects are in the industrial sector and 38.1 trillion rials (about $909 million) is to be invested within the projects.

Shasafand added that while 13 projects are in the agricultural sector. About 25.8 trillion rials (about $615 million) is to be invested within these projects.

“In addition, 5 projects are in the services sector. A total of 275 billion rials (about $6.54 million) is to be invested into these projects. At the same time, one project is in the field of culture and entertainment and 23 billion rials (about $547,000) is to be invested on this project,” he said.

As reported, Iran's Aras Free Trade Industrial Zone is located on the banks of the Araz River. This zone covers an area of more than 57,000 hectares.

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