Foreign investment to be made in Iran's Arvand Free Zone
BAKU, Azerbaijan, August 25
By Elnur Baghishov – Trend:
The negotiations are underway with two foreign investors regarding investments to Arvand Free Zone in the Khuzestan Province (southwestern Iran), deputy chairman of Business Development and Investment of Arvand Free Zone Organization, Ali Mousavi said, Trend reports citing IRNA.
Mousavi stressed that if the negotiations are successful, these two foreign investors will invest a total of $380 million into the mining and chemical production sectors.
He added that about $427 million worth of foreign investments has already been invested in the Arvand Free Zone over the past three years (from March 21, 2017, to March 20, 2020).
The deputy chairman noted that as for local investments in the Arvand Free Zone, 9.2 trillion rials (about $219 million) was invested in the zone three years ago (from March 21, 2017, to March 21, 2018).
“The amount of local investment in this zone in the previous Iranian year (from March 21, 2018, to March 21, 2019) rose to 15 trillion rials (about $357 million) and this figure reached to 20 trillion rials (about $476 million) in the last calendar year (from March 21, 2019, to March 20, 2020),” he said.
Mousavi said local investments are expected to increase to 25 trillion rials (about $595 million) this year (March 20, 2020 - March 21, 2021).