TEHRAN (MNA) – Construction of a large-scale textile factory in Zanjan Province, west of Iran, will create 5,000 direct jobs, planning and financial affairs deputy of Zanjan Governor-Generalship said on Saturday.

The agreement is a joint venture with participation of Iranian and foreign firms, Gholamhossein Dizajnejad added.

The plant is to be built in a 700,000 sq. m. land in Zaker Bonab industrial town of Zanjan, with initial investment of Rls.1,000 billion (almost $112m), said the official, stipulating the amount does not include the purchase of equipment. “The Japanese, Swiss and Turkish companies assume 50 percent of investment and 70 percent of production is to be exported abroad as articulated in the contract.”

The project is going to provide 3,000 direct jobs subsequent to the completion of first phase of construction and another 2,000 will come about at the end.

The textile factory should come on stream maximum in two years by employing topnotch technology with environmental concerns in mind, he vowed.