Four Investment Memoranda Signed in East Azerbaijan

Tabriz – Four investment memoranda worth over 41,200 billion tomans, projected to create jobs for 2,675 people, were signed in East Azerbaijan.

Tabriz - Four investment memorandums worth more than 41,200 billion Tomans were signed with the expectation of job creation for 2,675 people in East Azerbaijan.

According to Mehr reporter, during the government's 22nd provincial visit to East Azerbaijan, four investment agreements in the fields of food industry, steel and agricultural products were signed on Wednesday morning in the presence of Mohammad Jaafar Qaimpanah, Executive Vice President, and a group of investors and economic activists of the province.

These memorandums follow the implementation of four industrial and production projects in the cities of Sarab, Marand and Bostanabad and Aras Azad Zone, and the total investment expected for them is more than 41 thousand 200 billion tomans. According to the announced information, the implementation of these plans will provide employment opportunities for 2,675 people.

The first memorandum is dedicated to the construction of a refinery, which will be implemented with an investment of 5 thousand billion tomans in Aras region and will create job opportunities for 300 people.

With an annual production capacity of 120,000 tons, this complex will produce all kinds of starch, glucose, gluten and other flour derivatives.

The steel sheet production plan is the largest project in terms of investment volume among the signed agreements, which is implemented in Sarab city with a credit of 30 thousand billion tomans.

The annual production capacity of this project is one million tons of steel sheets and slabs, and 2 thousand people are expected to be employed for its implementation.

The third memorandum is dedicated to the construction of a factory for the production of livestock and poultry feed in Marand city. The estimated investment for this project is 1,200 billion tomans and 75 people are expected to work directly in this complex.

The fourth memorandum was also signed for the implementation of the pectin production plan in Bostanabad city. This project will be implemented with an investment of 5 thousand billion tomans and will provide employment for 300 people.

According to the announced plan, the annual production capacity of this industrial unit will be 800 tons of pectin and 1,500 tons of dietary fiber.

The implementation of these plans is aimed at developing the industrial and production capacities of East Azerbaijan, increasing job opportunities and strengthening domestic production, and includes sectors such as the steel industry, food industry, and agricultural products processing.