Iran reveals amount of loans issued in Chaharmahal and Bakhtiari province

Transport Materials 16 May 2020 10:54 (UTC +04:00)

BAKU, Azerbaijan, May 16

By Elnur Baghishov - Trend

Loans worth 5.27 trillion rials (about $125 million) were issued in the Chaharmahal and Bakhtiari province (southwestern Iran), Chairman of the province's Industry, Mine and Trade Organization Sajjad Rustami said, Trend reports with reference to the organization's web portal.

According to Rustami, the loans worth 5 trillion rials (about $119 million) were issued as part of Taraz Steel Company's plan to increase production at its enterprise in Shahrekord city. The area of the company's plant is 150,000 square meters.

Rustami added that the loans that were issued as working capital and fixed capital, will help to increase the company's production will increase by 40 percent by the end of the current Iranian year (began March 20, 2020).

The official said that 270 billion rials (about $6.4 million) were paid as loans to provide employment for 192 people.

Iran's Taraz Steel Company produces 270,000 tons of galvanize and galvalume products a year.