Indian firm eyes investing in Qazvin prov.

TEHRAN, Oct. 13 (MNA) – An Indian manufacturing company of various brands of home appliances, said that it intends to make investments in Qazvin province.

For this purpose, representative of this Indian company Nagaraju Murarishetty met and held talks with the governor general of Qazvin province on Sunday.

Turning to the reason behind choosing Qazvin province from other Iranian provinces for investment, he said, “as compared to Tehran, Qazvin enjoys high potentials and capacities for investment activities.”

“Our company will start its production in Qazvin in 2020 and all state-of-the-art technologies for manufacturing home appliances will be transferred to this province in a period of five years.”

Given the US sanctions and in absence of two famous South Korean brands of home appliances in Iranian market i.e. “SAMSUNG” and “LG”, suitable opportunity has been created in Iran for investment, he added.

The Indian company started manufacturing home appliances’ parts and equipment in 2004 for two South Korean companies i.e. “SAMSUNG” and “LG” but the company embarked on producing these parts itself in 2012, he added.

Once sanctions imposed on Iran are lifted, Iran will get the lion’s share of whole Central Asian markets, he said, adding, “in the first phase of this project, we will manufacture refrigerator, LCD TVs and washing machines in Qazvin province.”

MA/IRN83515499

News Code 151158

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