BAKU, Azerbaijan, October 7. The Aras Free Trade-Industrial Zone (AFZ) in Iran’s East Azerbaijan Province has attracted investments worth 290 trillion rials (about $654 million) in the first half of this Iranian year (March 21 through September 21, 2024), AFZ Director General Majid Kiani told reporters, Trend reports.
He said that during this period, 130 investment projects have been approved in the zone.
"In the framework of 107 of the projects, the territory has been allocated for the construction of various facilities, and for 23 projects, activities will be carried out on existing warehouses," the official explained.
Kiani pointed out that the facilities are planned to be commissioned within the next three years, employing 3,500 people.
"The facilities will serve as a warehouse, export terminal, hotel and restaurant, entertainment and shopping center, greenhouse, refrigerator for food products, grain processing plant and others," he added.
To note, AFZ is located on the Araz river. The zone covers 51,000 hectares of land, hosts 150 manufacturing and industrial enterprises, and also has the country’s largest greenhouse, which spans 7,000 square meters.
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