The CEO of Maku Free Zone
Organization said: Signing a 15-million dollar contract with Indian investors,
a ferroalloy producing factory is to be built in Maku free zone. Hossein Froozan at the signing ceremony of
this contract said: According to the contract, Kaby Alloy Company is going to
invest in three phases and the project will be run immediately after signing contract.
15 million dollars will be invested in the first phase to build a ferroalloy
He added: In the next phases, this
company will invest 15 and 30 million dollars to complete this plant in Maku Free
Zone. One hundred direct job vacancies will be created in the first phase and one
thousand direct and indirect job opportunities will be created in the final phase.
Froozan pointed out that the first phase of
the investment will be completed until next year and he also said: Allocation
of 30 thousand square meters of land and use of the legal benefits of
free trade zones are Maku Free Zone's commitments to its investors. Raw materials including Silicon and Manganese for this project will
be extracted out of Maku free zone mines.
Abhay Aggarwal, CEO of the Kaby
Alloy Company, said that the production of this company will be ferroalloys.
He added that the condition for
investment in Maku free zone is very suitable and economical and on the other
hand thanks to Maku free zone's geographical location, it has easy access to
target markets. Because of this issue after comprehensive studies by our
company we decided to invest in this area and now we are pleased.
He also commented that we are looking
forward to see growth and prosperity in this area very soon.