Lebanon Businessnews News

IRI facility planned in Hadath
More than 300,000 tests performed last year
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The Industrial Research Institute (IRI) has concluded feasibility studies to establish a new facility in the Lebanese University’s Hadath campus. Bassam Frenn, Director General of the IRI, said construction has been delayed because of the instable political situation. “The new building will meet the big demand on the institute’s services,” he said.

The facility will stretch over 7,000 square meters and create about 100 jobs. The cost of investment in the building, excluding the equipment, will reach $10 million, funded by the IRI.

Internal operations at the IRI labs increased from 286,000 in 2011 to 311,000 during 2012, according to the institute’s annual report. Frenn said the IRI was working at full capacity despite difficult economic conditions.

Frenn said that rising demand for the IRI’s services “is due to the increase in issued Lebanese standards. In addition, traders are diversifying the types and kinds of goods imported.”

Last year the IRI had established the innovation and technology center, which aims to encourage creative people implement their ideas for industrial projects. In collaboration with the European Union, the center could grant $13,000 for every project. “The center has funded about 14 projects so far, and six new projects will be funded in coming months.”
Reported by Rania Ghanem
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Date Posted: Jul 24, 2013