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Iran's SHASTA company to invest in industrial sector

Business Materials 20 May 2022 16:14 (UTC +04:00)

TEHRAN, Iran, May 20. The Social Security Investment Company (SHASTA) is investing 50 trillion rials (about $11 billion) in production and industrial sectors to help the development of poor regions, said the Managing Director of SHASTA, Ebrahim Bazyan, Trend reports citing IRNA.

"The Social Security Investment Company is drafting an investment plan for the next ten years. The plan will include investment in livestock farming in the next five years to create jobs in deprived areas and support food security," he said.

He pointed out that SHASTA will invest in industrial units including the glassware bottle factory for medical products in Germi County in Ardabil Province.

The Social Security Investment Company currently has 245 trillion rials (about $58 billion) worth of assets in 25 provinces.

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