Iranian Tobacco Company (ITC) will construct a cigarette factory in Zimbabwe.
Local media reports indicate that Mohammad Sheikhan, CEO of ITC Corporation, and Anxious Jongwe Masuka, Zimbabwe's Minister of Agriculture, have reached an agreement to build a factory in Zimbabwe during a meeting held in Harare.
According to reports, the factory will utilize tobacco supplies from farms in Zimbabwe to produce ITC's top cigarette brand, Bahman.
ITC has announced on its website that the agreement signed in Harare will allow the company to source tobacco from Zimbabwe for use in its cigarette factories in Iran or for export to Central Asian countries.
The company stated that, under the agreement reached on Thursday, other cigarette brands made in Iran will also be exported to Zimbabwe.
In recent years, Iran's tobacco industry has experienced growth due to a reduction in the importation of international brands and an increase in demand for domestic products.
This prosperity has enabled ITC, founded in 1928, to restore many idle factories and begin exporting to several countries in West and Central Asia.
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