Over $857m of loans to be offered to industrial units

April 30, 2019

TEHRAN- Iranian deputy industry minister said that 360 trillion rials (about $857.1 million) of facilities will be granted to the industrial units in the current Iranian calendar year (started on March 21) in the framework of production flourishing plan, IRNA reported.

Mohsen Salehinia, who is also the head of Iran Small Industries and Industrial Parks Organization (ISIPO), made the remarks on Monday evening when visiting an industrial estate in the northern city of Rasht.

In late February, the official had said that about 1,300 industrial units have come back online to production cycle via injection of financial resource.

In the current Iranian calendar year, the government plans to provide facilities under the framework of subsidies for projects with more than 60 percent of physical development, to supply working capital of firms, to renovate production units and etc, the official noted. 

According to Salehinia, small-sized units account for 93 percent of the total number of units active in Iran’s industrial estates.

Stressing the significance of supporting these units, the official said that small units are more vulnerable to the economic pressures.

The deputy minister further said that 43,000 industrial and production units are active in 983 industrial estates of the country creating jobs for 885,000 persons.

MA/MA

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