BAKU, Azerbaijan, March 28
By Elnur Baghishov - Trend:
About $1.3 billion will be invested to the Persian Gulf Mining and Metal Industries Special Economic Zone in Hormozgan province in southern Iran in the current Iranian year (starting from March 20, 2020), 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.
According to Tehrani, this investment will be used to take effective steps, for example, to create economic development, to create infrastructure in the zone.
Khalaj Tehrani added that so far, $3.8 billion has been invested in the zone. The director said that in addition, $953 million is expected to be invested in construction and equipment installation projects.
"Hopefully, these investments will accelerate Iran's economic development and increase revenues," he said.
Tehrani said that preventing the sale of raw materials leads to increased processing and employment.
The PGSEZ (full name: Persian Gulf Mining and Metal Industries Special Economic Zone), located in the port city of Bandar Abbas in Hormozgan Province, is a zone belonging to the Iranian Mines & Mining Industries Development & Renovation Organization (IMIDRO).