$21M to be invested in Iran’s Persian Gulf Mining & Metal Industries Special Economic Zone
BAKU, Azerbaijan, Dec. 24
By Elnur Baghishov - Trend:
Two foreign companies will invest $21 million in two projects in the Persian Gulf Mining and Metal Industries Special Economic Zone in Bandar Abbas county in Iran’s Hormozgan province, said Hassan Khalaj Tehrani, managing director of the Persian Gulf Mining and Metal Industries Special Economic Zone, Trend reports referring to the economic zone’s website.
Tehrani noted that these projects will be related to the production of ferroalloys and petrochemicals.
The managing director added that the interest of foreign investors in the economic zone has increased with the implementation of infrastructure projects there.
Tehrani said that $3.8 billion has been invested in projects in the economic zone so far and these projects have been commissioned.
“Investment projects worth $953 million are under construction and equipment is being installed,” the managing director noted.
Tehrani added that 17 companies operate mainly in the steel, aluminum and petrochemical sectors.
The managing director said that 18 new plants are also under construction and will be launched soon.
Tehrani added that 11 investors expressed readiness to invest in the economic zone. In this regard, legal procedures and plans for granting them land are being implemented.