A joint-venture textile factory is to open up 5,000 jobs in Zanjan Province, northwest Iran, Mehr News Agency reported.

The factory is a joint venture between Iranian, Japanese, Swiss and Turkish firms, according to Zanjan Governor-Generalship planning and financial affairs deputy, Gholamhossein Dizajnejad.

The plant, which is due to open within two years, will be set in 700,000 sq m of land in industrial town Zaker Bonab, the report said.

Initial investment will total IRR1,000 bn (US$112m), not including the purchase of equipment, the official was reported as saying.

70% of the factory's production will be exported.