EghtesadOnline: President Hassan Rouhani inaugurated 20 industrial projects in Aras Free Trade and Industrial Zone located in West Azarbaijan Province via videoconference on Monday.
Investments worth 9,277 billion rials ($37.4 million) have been made by the private sector in these projects, which are expected to add 669 jobs, IRNA reported.
Situated in northwest Iran bordering Armenia, Azerbaijan and the semi-autonomous Nakhichevan region, Aras is the main gateway to Iran from the Commonwealth of Independent States.
These projects include Phase II of Azarabadgan Aras Steel Complex worth 2,550 billion rials ($10.28 million) with a production capacity of 70,000 tons of steel ingot, which have created 72 jobs.
Also, Phase I of Aras Media Shetab Electronic Company with a capacity of assembling 40,000 air-conditioners and 6,000 compression chillers was inaugurated. The project is worth 1,180 billion rials ($4.75 million) and currently employs 15.
Deniz tourist accommodation complex worth 1,120 billion rials ($4.51 million) constructed over an area of 16,800 square meters was also launched. It will create 144 jobs.
The production line of Aras Khodro Diesel Company’s automatic pick-ups with an annual capacity of 160 vehicles was also launched. Seventy jobs will be added, thanks to the investment of 1,040 billion rials ($4.19 million).