TEHRAN – Iran is slated to get its first ever apparel industrial park which will be set up by the public, private and cooperative sectors of the country. The park is being established with an aim to meet domestic demand and boost exports. A memorandum of understanding (MoU) has already been signed between various parties of the country in this regard.
The industrial park will come up near Imam Khomeini International Airport in Tehran and will be spread over an area of 190 hectares. It will be extendable to 300 hectares, said an Iranian news agency quoting Ali Yazdani, Chairman of Iran’s Small Industries and Industrial Parks Organization during the MoU signing ceremony.
The first phase of the park has already been designed and the development has started for the second phase. It will have around 300 apparel manufacturing units in addition to other service providers like hotels, design centres and training institutes. Brands from Italy and other countries will also participate in the industrial park, as per Yazdani.
He added that the private sector of Iran is responsible for developing the manufacturing and trading spaces, while the public sector will develop its infrastructure. About 3,000 to 5,000 square metres of area is dedicated to each of the service and production unit. Close to 30 trillion rials ($791.139 million) will be invested to develop an area of 1 million square metres, said Yazdani.
Investors from countries like China, Italy, Turkey and South Korea have shown their interest in the ongoing project.
The apparel industry has the potential to create the highest number of jobs, said Hamid Kalantari, deputy minister of cooperatives, labor and social welfare.
The MoU was signed between Iran’s Small Industries and Industrial Parks Organization, Cooperative Investment Guarantee Fund, ministry of cooperatives, labor and social welfare, Iran’s Clothing Association, and Tose’e Ta’avon Bank.