According to MIMT’s figures, $35.67 billion in investments are needed to complete the projects, IRNA reported.

In addition, the MIMT statistics show that of the total number of the incomplete projects, 13,310 are over 60 percent complete, with $5.73 billion in investments, whose inauguration will generate 468,000 jobs.

A total of 4,056 projects are 80 percent complete having received investments to the tune of $2.08 billion. Upon completion, the projects are expected to create 181,000 jobs.

Earlier in March, the MIMT announced nearly 1,200 ailing or closed factories were revived over the past Iranian calendar year (which ended on March 19) as the government seeks to diversify the economy away from oil and create more jobs in the country.

A deputy minister of industry, mine and trade said that a total of 1,185 manufacturing units had been turned around in the past year, Press TV reported.

Asghar Mosaheb said those factories were either closed or had been working with the minimum capacity for many years.

“Reviving these units have led to direct employment for 21,618 people,” said Mosaheb, adding that many of those factories had been grappling with various problems related to cash flow and investment, technology, marketing and disputes between the owners.

He said the MIMT had set up special taskforces in the Iranian provinces to help resuscitate the ailing manufacturing units by supporting them through banking and insurance problems.

Iran has seen a rebound in manufacturing over the past two years mainly because a series of American sanctions have led to lower imports and a growing demand for homemade products.

The growth in production, especially in government-run companies, has also boosted the exports and created new sources of hard currency for the country.

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He went on to say that all the aforementioned goods were exported to the Persian Gulf littoral states, India, China and Thailand.

It is targeted that $9.6 billion worth of products will be exported from this province by the yearend (to end March 20, 2010), he added.

Ghassemi pointed to the high capacities and potentials of Hormozgan province in the field of exports and added, “we are trying to boom small ports of this province in order to spur exports and export activities in the current year (started March 21, 2019).

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He added that China, Germany, the Netherlands, and Turkmenistan are the main foreign investors in the industrial projects in Razavi Khorasan in the said period.

As reported earlier, during the first three months of the present Iranian calendar year (ending June 21, 2019) the named province exported $480 million worth of non-oil goods.

“Some 956,000 tons of goods at the value of $408 million were exported in these three months,” Mesforoush said previously.

“The figure shows a growth of 62 percent in terms of weight,” he added.

“The exported products included saffron, apples, pistachio, steel bars, cement, some dairy products, etc.,” he added.

“Afghanistan, Iraq, Turkmenistan, Uzbekistan, the EU, Pakistan, Hong Kong, Kyrgyzstan, and Vietnam were the export destinations for the products of the province,” Mesforoush added.

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He pointed to the development projects of the ministry in the field of industrial parks and added, “development projects are underway in 77 industrial parks and areas across the nation.”

Salehinia put the number of industrial parks and areas in the country at about 1,100 and added, “according to the latest statistics, Small- and Medium-sized Enterprises (SMEs) exported $4 billion worth of products last year (ended March 20, 2019).”

Elsewhere in his remarks, he pointed to the construction of 466 industrial clusters in the country and added, “these clusters are active in 97 projects including saffron, honey, carpet, etc.”

Salehinia put the number of industrial parks and areas under construction at 810 and said that Iran is home to nine special economic zones.

The Ministry of Industry has supported more than 33,700 industrial units for participating in domestic and foreign exhibitions, the deputy minister highlighted.

About 210 foreign investors have made major investments, valued at over $2 billion, in Iran’s industrial and trade units which have generated employment opportunities for 17,000 job-seeking people.

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In the same period, 113,400 tons of cartons and pasteboard were produced in Iran, showing a 45.4 percent growth as compared to the same period of last year.

Also, domestic factories produced 103,300 cubic meters of chipboard in the first two months of the current year, registering a 13.2 percent growth as compared to the same period of last year.

Statistics showed that 91,300 cubic meters of chipboard was produced in the country in the first two months of the last year.

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This huge volume of foreign investment was approved for 83 mining and mineral projects.

A number of 88 mining and mineral projects, valued at $3.497.100 billion, was approved in 2017, showing a considerable 68.5 percent decline in terms of value as compared to a year earlier.

Producing a variety of beverage products, air-conditioners for vehicles, offering sales and after-sales services, manufacturing compressed sheets and ferrosilicon manganese, detergents, photovoltaic solar cells, etc. are of the salient projects which were launched using Foreign Direct Investment (FDI).

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During the visit, the foundation of the Azerbaijani-Iranian bus assembly plant will be laid in Hajigabul Industrial Site. The parts for buses will be also produced there.

The opening ceremony of the Iranian Trade Center will be held in Azerbaijan during Rahmani’s visit.

The bilateral economic and energy projects between Azerbaijan and Iran, the North-South International Transport Corridor, the Rasht-Astara railway project, the issues of cooperation in the field of holding exhibitions, signing of memorandums of cooperation will be discussed during the Iranian minister’s visit.

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Billet and bloom output stood at 12.958 million tons, while that of slab reached 9.738 million tons.

Hot-rolled coil had the lion’s share of finished steel production with 7.277 million tons, up 3% year-on-year.

It was followed by rebar with 7.102 million tons, up 24% in comparison with last years 11-month period.

Production of cold-rolled coil stood at 2.34 million tons, up 14%, while the production of coated coil with 1.272 million tons observed a 9% fall.

Iran aims to become the world’s sixth largest steel producer as per the 20-Year Vision Plan, which targets annual production capacity expansion to 55 million tons and 20-25 million tons of exports per year by 2025. Iranian steel mills have so far realized just over 30 million tons of the capacity target.

Iranian steelmakers produced 21.88 million tons of semis and 19.77 million tons of finished goods last fiscal to register a 19% and 9% YOY growth respectively. They exported 6.87 million tons of semis and 1.62 million tons of finished steel during the period, recording an 84% growth and a 10% downtick YOY respectively.

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Potato, tires, plastic products, dairy products and glass were among the main goods exported during the period.

Iraq, Azerbaijan and Afghanistan are among the major export destinations for commodities exported from Ardabil.

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