Six More Projects Worth Over $14 Million Come on Stream

EghtesadOnline: Six industrial projects worth 3.5 trillion rials ($14.83 million) came on stream in two provinces on August 6, under the auspices of the Ministry of Industries, Mining and Trade.

News ID: ۷۵۰۶۴۵

09 August 2020

The projects were inaugurated by the ministry’s caretaker, Hossein Modarres Khiyabani, via videoconferencing and are said to create 398 direct jobs in the provinces of Alborz and Khorasan Razavi, the Ministry of Industries, Mining and Trade's official news service Shata reported.

The first inaugurated project is a copper and aluminum cable and wire plant owned by Mehr Aflak Ariya Company in Neyshabur, Khorasan Razavi Province.

According to Khiyabani, the plant has been established with 480 billion rials ($2.04 million) of investment and a production capacity of 18,400 tons of cable and wire per year. The project has created a total of 60 direct jobs.

The official also launched an auto part production unit at Nafis Part Pishro Company in Neyshabur. Established with an investment of 700 billion rials ($3 million), the unit employs 110 people and is set to produce about 925,000 auto parts per annum.

In addition, with an investment of over 1 trillion rials ($4.24 million), a new mining firm active in copper cathode production became operational in Neyshabur on Thursday.

The company’s output will stand at 2,000 tons per year and create 100 direct jobs.

A wheat storage complex with an aggregate capacity of 50,000 tons was also launched in Firouzeh County, southwest of Neyshabur. Employing 40 people, the project has been implemented with an investment of 750 billion rials ($3.18 million) by the private sector on 10 hectares.

The main features of the silos are temperature monitoring and ventilation systems, programmable logic controllers, automated sampling systems and remote-controlled relief valves.

According to Khiyabani, Iran's wheat storage capacity currently stands at 22 million tons.

Two other projects were launched in Alborz Province, northwest of capital Tehran.

The ministry’s caretaker cut the ribbons at a plastic production plant owned by Madiran Plastic Company in Savojbolagh County, 40 kilometers west of Tehran.

The unit has come on stream with 250 billion rials ($1.06 million) of investment and created 50 direct jobs. It is projected to produce around 13,000 tons of different types of biodegradable polymers and films used in office machinery products.

The last inaugurated project was a food stabilizer and flavor production unit in Nazarabad County, adjacent to Savojbolagh.

The project has been constructed at a cost of 320 billion rials ($1.35 million) with a production capacity of 15,000 tons per year, creating around 40 direct jobs.

The inaugurations were part of the government's plan to launch 200 industrial, mining and trade projects worth 1.69 quadrillion rials ($7.16 billion) across the country by the end of the current fiscal year (March 20, 2021), creating 41,000 jobs along the way.

This was the ninth consecutive week of industrial inaugurations after the government’s scheme kicked off earlier this year. So far this year, 44 mining and industrial projects worth over 200 trillion rials ($848 million) have come on stream.

According to official data, the projects have created more than 7,000 direct jobs across the country.