Noting that companies affiliated to Mostazafan Foundation account for 13% of domestic cement production, Mohammad Saeedikia added that a motor oil factory is under construction by one of the foundation’s affiliated companies in Oman, Mehr News Agency reported.
According to Saeedikia, Mostazafan Foundation has 11 holdings, 160 affiliated companies and 40,000 employees.
About 70 companies were merged, ceded or dissolved to streamline the organization in recent years, according to Financial Tribune.
Mostazafan Foundation (a foundation for the oppressed and disabled established in 1979 as per the decree of the late Imam Khomeini) is the largest charity and the second-largest conglomerate in Iran.