Baku, Azerbaijan, Nov. 28
By Temkin Jafarov - Trend:
As many as 20 Chinese companies intend to invest $150 million in the Salmas special economic zone located in the Iranian province of West Azerbaijan, director of the investment organization of the Iranian province of West Azerbaijan Mohammad Musazade said, the Islamic Republic News Agency (IRNA) reported Nov.28.
Musazade said that an agreement with these companies has been reached, and the companies will invest in the Salmas economic zone in three stages.
"There are favorable conditions for investment in the Salmas special economic zone both for foreign and domestic investors," said Musazade. "In addition to Chinese companies, Iranians living in Germany and the UK invest here."
The first stage of investment will begin in January 2016.
"Investments will be mainly made in the textile industry, information technologies, mining equipment, cars and cargo transport, chemical fertilizers from the salt extracted at Lake Urmia, as well as building materials," said the director.
Production facilities will start operating at an area of 187 hectares in the Salmas special economic zone within the framework of the first phase of the investment. This zone is located near the airports of Tabriz and Urmia, as well as close to the territory of Turkey and the Nakhchivan Autonomous Republic.
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