TEHRAN - Iranian President Hassan Rouhani, on Thursday, inaugurated four industrial and mining projects worth 48.26 trillion rials (about $1.149 billion) in the northeastern Khorasan Razavi Province and central Isfahan Province via video conference.

The projects included two iron ore concentrate units in Sangan Iron Ore Complex (SIOC) and an iron pellet production unit in Sanabad Mining and Industrial Development Company (SIMIDCO) in Khorasan Razavi, as well as the expansion of a home appliance unit in Isfahan.

As reported, with a production capacity of 5 million tons per year, Sangan iron ore concentrate units are going to create direct and indirect jobs for 3,500 people.

The project was completed with €150 million of foreign investment as well as eight trillion rials (about $190 million) of domestic investment.

Meanwhile, Sanabad's 2.5-million-ton pellet production unit, with a domestic investment of 1.9 trillion rials (about $42.23 million) and 900 million yuan of foreign investment will also create direct jobs for 280 people.

In late May, Iranian Industry, Mining, and Trade Ministry announced the implementation of a new program called “Persistent Production-Effective Employment-Sustainable Exports”, based on which the ministry plans to inaugurate 200 industrial, mining, and trade projects across the country by the Iranian calendar year of 1400 (begins on March 20, 2021).

As reported, a total of 1.69 quadrillion rials (about $40.23 billion) has been invested in the mentioned projects that are going to create job opportunities for 41,000 people.

The mentioned program has been defined by the Industry, Mining, and Trade Ministry in line with the government’s new strategies for developing the country’s infrastructure in order to realize the “Surge in Production” motto.

The same program (called “A-B-Iran”) was also defined by the Energy Ministry last year, under which numerous energy projects were inaugurated in various provinces across the country.

EF/MA