$220m Investment in Tyre Factory

By John Lee.

Arya Tire Hamoon Industrial Company, a subsidiary of the Industrial Development and Renovation Organization of Iran (IDRO), and Dam and Water Works Construction Company (SABIR) have signed an agreement to build a tire manufacturing plant in the city of Zabol.

The minister of industry, mining, and trade, and the minister of cooperatives, labor, and welfare attended the signing ceremony.

A total of 8400 billion rials (around $220 million) will be invested in the project and the plant will be built over the course of four years. The project is estimated to create 1,344 direct jobs and 5,000 indirect jobs, according to IDRO News.

The Industrial Development and Renovation Organization of Iran (IDRO) is the executor of the project and Arya Tire Hamoon Industrial Company, represents IDRO in the project. IDRO owns one hundred percent of the company.

(Source: IDRO)

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