The newly opened Shahriar watchmaking factory recently become operational, constituting the largest manufacturing plant in the watch sector in the entire Middle East.
The Managing-director of the plant in the Tehran suburb, Fariborz Shafaqatian, said at the inauguration that the factory would produce 1.8 million watches per annum.
The factory during its pilot operations, signed agreements with several European, Central Asian and Middle Eastern states to export 30 percent of its output, Iran Times reported.
The official added that due to high domestic and oversea demands, the factory will increase its wristwatch production capacity in five stages by March 20, 2006. The plant, which occupies an area of 4,000 square meters, cost approximately 20 billion rials to establish, and will employ about 150 people.