Azerbaijan, Baku, Dec.27 /Trend, A.Yusifzade /
Iran has signed the agreement worth $ 300 million with Kuwaiti investors to implement roughly 15 infrastructure projects in the Arvand Free Trade Zone (AFZ), Ali-Asghar Parhizgar, the managing director of the Iranian Arvand Free Zone, was quoted by Bena, as saying.
AFZ is located at the northwestern tip of the Persian Gulf and southwest province of Khuzestan at the confluence of the Arvand and the Karun rivers.
The area of AFZ is more than 173 sq. km. AFZ is bordered on the west by Iraq and on the south by Kuwait.
This zone consists largely of 3 main parts: industrial townships in Abadan and Khorramshahr, Shalamcheh border-line and Minoo Island. Roughly 8,600 hectares of all lands specialized for this zone are allotted for industrial activities and 4,800 hectares for administrative, tourism and commercial purposes, the remaining 3,800 hectares for warehousing, ports and transit. The unique merits of AFZ are:
Arvand Industrial - free trade zone. It becomes one of the largest industrial, commercial and tourism zone in the Middle East.