A textile factory is taking shape in an area of 700,000 square meters in Banab Zaker with an investment of Rls.1,000 billion ($112million), informed Zanjan Governor General’s Office.

The factory, which is expected to generate around 5,000 direct jobs, will be established as a joint venture between Iranian and foreign companies. 50% of investment will be made by companies from Japan, Turkey and Switzerland. The factory will export 70% of its total production.