South Korea invests $20 million in Iranian PSEEZ
Azerbaijan, Baku, August10 / Trend /
A South Korean company will invest $20 million in Pars Special Economic Energy Zone (PSEEZ) for construction of steel structures in refineries and petrochemical projects in South Pars, SHANA reported quoting Manager for attracting investment in Pars Special Economic Energy Zone (PSEEZ) Hojatollah Fereydoni as saying.
"The Korean company has started to work in Pars Special Economic Energy Zone (PSEEZ) according to Iran's policies to support foreign investors," he said.
The foreign investor will establish a private Iranian company (Sarmayeh Pazir Company) and start production line of factories soon.
The company investment on Phase one is estimated at $9 million which will be invested by foreign investor through private Iranian company, total of $5.5 million cash and $3.5 million machinery and equipment.
The rest of foreign investment in Phase two of Pars Special Economic Energy Zone (PSEEZ) include developing factories and increasing production.
Phase one has the production capacity of 20,000 to 50,000 tons and the Phase two 50,000 to 70,000 tons