Baku, Azerbaijan, Feb. Mar. 16
By Rahim Zamanov - Trend:
Iran invested 1.8 trillion rials ($60 million based on the price of USD at the free market) in Pars Special Economic and Energy Zone (PSEEZ), south of Iran, the Managing Director of PSEEZ Masou Nasouri said on Mar. 16, Iran's IRNA News Agency reported.
"During the visit of Iran leader to PSEEZ in March 2012 it was decided that the oil ministry should invest 2.45 trillion rials in the zone. So far some 1.8 trillion rials of the mentioned amount have been secured," he explained.
"Some 20 billion rials will be invested in the zone by the end of the current year (to ended March 20) in order to facilitate developing PSEEZ's projects," the official said.
"The oil ministry has issued the necessary licenses to allocated another 31 billion rials," he noted.
PSEEZ is a special economic zone, which was established in 1998 for the utilization of South Pars oil and gas resources. Goods can be brought in duty free, but cannot leave the PSEEZ and enter the rest of Iran. This is to encourage construction within and development of the PSEEZ.
The PSEEZ as it is known has been allocated 100 square kilometers of land at Asaluyeh for the various complexes and facilities. The site is a collection of different plants and refineries (known as "phases") and is administered by the PSEEZ agency onsite.
A total of 27 phases are envisaged (12 gas, 15 petrochemical), plus a mix of light and heavy industry, and associated support facilities such as factories and warehouses.