The head of the Economic Commission for Aras Free Trade Zone Organization announced the investment of the Development Group of Iran and China to implement the Data Center and High-carbon Ferrochrome Project in the region.
Talking to IRNA on June 16, Safar Shasfand said that the total investment of these two projects is $206.3 million plus 14,310 billion rials.
Pointing to the approval of these two projects at the Economic Commission, he said the amount of foreign investment of Data Center is $113 million and its domestic investment is 9,800 billion rials.
DeputyDirector for the economic and investment affairsofAras Free Zone Organization’s also said that High-carbon Ferrochrome Project would be implemented with foreign investment of $93.3 million and domestic investment of 4,510 billion rials.
Referring to the attraction of$ 22,710 billion rials of domestic capital and $78.742 million of foreign capital last year, the official said, 55 percent, equivalent to 12,460 billion rials of domestic capital absorbed in the industrial sector of the region.
Shasfand expressed that the tourism sector contributed with a share of 22 percent and attracting 4,960 billion rials, agricultural sector with a share of 20 percent and attracting 4,550 billion rials and the commercial sector with a 2-percent share and attracting 720 billion rials.
Aras Free Zone with an area of 51,000 hectares is located in the northwest of the country and has attracted investment of more than 60 foreign companies and 400 domestic companies.
The 20-year tax breaks, land allocation to those involved in the production sector with long-term installments, as well as providing banking facilities and the possibility of importing raw materials and machinery without taking tolls are among investment incentives in the Aras Free Zone.