TEHRAN- Managing Director of Iran Small Industries and Industrial Parks Organization (ISIPO) Sadegh Najafi announced that 360 small production units have been renovated during the two past months, IRIB reported on Tuesday.

The official also said that 31,500 small and medium-sized production units are planned to be renovated within the next three years.

Last week, Najafi said that 1,700 industrial units with inefficient production capacities are scheduled to be run at full capacity by the current Iranian calendar yearend (March 20, 2019).

“Among its top priorities, ISIPO has maximizing the production level of 15 industrial sectors and making 10 percent of the products of domestic small industries export-oriented by the said time,” he told IRNA.

The official has announced that 740 trillion rials (about $17.411 billion) of loans will be paid to the production units in the country in the current calendar year.

He said some part of the mentioned loans is allocated as the governmental budget and the rest will be paid by the banks.

On May 6, Deputy Industry Minister Ali Rahmani announced that 28,602 production units received banking loans during the last year.

The allocated loans were at the value of 200 trillion rials (about $4.705 billion), he said.

In late January, Najafi said during the next four years 161,000 new job opportunities will be created in 20,000 small industrial units across the country.

He noted that in this regard a program has been established for renewing and supporting the country’s small industries.

According to the official, small industries account for 92 percent of the country’s total industrial body and currently 85,000 of such units are active across the country, of them, 1,700 ones are large and industrial and the rest are medium and small-sized.

MA