Indian Investors to Invest 15 Million Dollars in Maku Free Zone

Indian Investors to Invest 15 Million Dollars in Maku Free Zone

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 plant.

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.

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