Raisi orders 48 major industrial projects worth $17b to begin

February 6, 2022 - 14:3

TEHRAN – President Ebrahim Raisi on Sunday ordered the beginning of 48 major industrial projects with a total investment of $17 billion across the country, through videoconferencing, IRNA reported.

As reported, the mentioned projects are going to be implemented in 27 cities of 13 different provinces.

A consortium comprised of Golgohar Mining and Industrial Company, Mobarakeh Steel Company, National Iranian Copper Industries Company (NICIC), Chadormalu Mining and Industrial Company, Mines and Metals Development Investment Company (MMDIC), and Parsian Oil and Gas Development Company (POGDC) known as "Iran's Progress Promoters Group" is going to provide the funding for the mentioned projects.

When fully operational, the said projects are expected to produce 54 million tons of minerals, metals and petroleum products, bringing the country $20 billion of annual revenue while creating 21,000 direct jobs and 64,000 indirect jobs.

The memorandums of understanding related to the mentioned projects were also signed by the managing directors of the companies, that will make investment and implement the projects, in the presence of the president.

The ceremony to launch the major industrial projects, attended by Industry, Mining and Trade Minister Reza Fatemi-Amin, Finance and Economic Affairs Minister Ehsan Khandouzi, and Oil Minister Javad Oji, was held in the sixth day of the Ten-Day Dawn (February 1-11), which marks the anniversary of the victory of Islamic Revolution of Iran.

Every year, during the Ten-Day Dawn celebrations, numerous infrastructure projects are inaugurated or commenced to mark the development of the country after the revolution.

EF/MA

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