BAKU, Azerbaijan, August 10. The Aras Free Trade-Industrial Zone (AFZ) in the East Azerbaijan Province, located in northwestern Iran, has attracted $77 million in foreign investment over the past seven months, Hadi Moghaddamzadeh, head of AFZ, told local media, Trend reports.
According to him, in addition, 462 trillion rials (about $808 million) worth of local investment was attracted during the mentioned period.
Moghaddamzadeh added that on August 24-31, facilities within the framework of 16 projects in industry and agriculture will be commissioned in the AFZ. In this regard, 42 trillion rials (about $73.4 million) and $40 million worth of investment have been made.
The zone official added that over the past seven months, 688 people have been employed in the Araz Free Trade Zone. Also, products worth $103 million have been imported.
To note, Aras Free Trade-Industrial Zone is located on the banks of the Araz river. This zone has an area of 71,800 hectares, with 150 production and industrial enterprises. At the same time, the country's largest greenhouse (7,000 square meters) is located in this zone.
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