Investments for $3.2M made in Iran’s Chabahar

Business Materials 23 April 2019 13:10 (UTC +04:00)

Baku, Azerbaijan, April 23

By Elnur Baghishov – Trend:

Some $3.2 million worth of foreign investments were made last Iranian year (started March 21, 2018) in the Chabahar Free Trade–Industrial Zone in Iran’s southeastern Sistan and Baluchestan Province, Abdolrahim Kordi, Chairman of the Board and Managing Director of the Chabahar Free Zone, told Mizan Information Agency, Trend reports.

According to Kordi, 5.48 trillion rials (about $130 million) of local investments were made in the trade zone last year. In his words, 47 production facilities started functioning in the zone during the mentioned period, employing 668 people overall.

Noting that Iran has become a center for rice processing, he said that rice imported from Pakistan and processed in the zone, was both used for domestic consumption and exported. In his words, various products worth $6 million were exported this way last year.

"This leads to significant savings in Iran's foreign currency expenditures," he said. Kordi stated that $11.5 millions’ worth of revenue was generated last year from the exports of products produced in the zone.

Kordi said that the products are exported to Afghanistan, Pakistan, Oman, Iraq, India and some Gulf countries.