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[BUSINESS] · Iran · 2 sources

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East Azerbaijan receives massive infrastructure and housing investment

The Iranian government has announced a massive series of infrastructure, economic, and housing projects in East Azerbaijan. During an official provincial visit, Executive Vice President Mohammad Jafar Ghaempannah oversaw the inauguration of 11,248 urban and rural housing units valued at over 15,656 billion tomans. These units aim to support low-income groups and modernize aging urban areas.

In addition to housing, the government has inaugurated various developmental projects totaling 54,000 billion tomans. Key highlights include 28 schools, regional power and water/wastewater projects, and a 120 MW solar power plant in Jolfa. The province is also seeing significant industrial movement, with 41,000 billion tomans in memorandums of understanding for large-scale projects, such as a steel sheet production plant in Sarab and a grain refinery in Aras.

Further commitments include 98,000 billion tomans in bank facilities and 150,000 billion tomans in investment readiness. Planned construction works involve completing major roads like the Jolfa-Kalaleh route and the Tabriz-Urmia freeway, as well as the first phase of a 1,000-bed teaching hospital in Tabriz.

Entities

Bahrām Sarmast · East Azerbaijan · Mohammad Jafar Ghaempannah