TEHRAN – Iranian Industry, Mining, and Trade Ministry plans to complete 250 important industrial projects with over 60 percent physical progress by the end of the current Iranian calendar year (March 20, 2022).

According to the Industry Ministry’s programs for the current year, pioneering projects including steel sheet production units and knowledge-based projects are the priority for completion, IRNA reported.

As reported, the ministry also plans to revive and modernize 50 major industrial units, 60 mining complexes, and 1,500 small business units.

Back in April, Director General of Planning and Financing Office of the Ministry of Industry, Mining, and Trade Alireza Hadi had announced that 3,639 semi-finished industrial projects with over 80 percent physical progress have been identified across the country.

According to Hadi, over 119 trillion rials (about $2.833 billion) is needed to be invested in the mentioned projects which can provide job opportunities for 155,000 people.

The number of projects with physical progress between 60-80 percent is 12,993 993 projects with a total investment of about 289 trillion rials (about $6.88 billion) which can provide jobs for 463,000 people, the official said.

Nearly 19,185 projects also have physical progress between 20-60 percent with 579 trillion rials (about $13.78 billion) of investment and the possibility of employment for 747,000 people are underway across the country, he added.

The official noted that currently, the Industry Ministry’s priority is to fund pioneering projects with over 80 percent of physical progress.

Like the previous year, reviving idle units is also another important program that the ministry is pursuing in the current year which has been named the year of “Production:  support and the elimination of obstacles.”

Deputy Industry, Mining, and Trade Minister Mehdi Sadeqi Niaraki had earlier announced that 1,500 idle industrial units were revived in the country during the previous Iranian calendar year (ended on March 20).

According to Industry Ministry programs, reviving 2,000 idle small and medium-sized enterprises (SMEs) is also on the agenda for the current year.

EF/MA