Italy signs agreement to invest dlrs 450m in Amirabad Port

EghtesadOnline: Italy signed agreement to make dlrs 450 million investment in Amirabad port of Behshahr, northern Iran, Director of Ports and Maritime Administration of Amirabad Special Economic Zone said on Tuesday.

News ID: ۷۶۸۶۹۶

03 August 2016

Ali Khedmatgozar told IRNA that the investment is for producing 'bioethanol' fuel from inedible wheat by Italian private sector.

Bioethanol is produced from agricultural crops waste, such as wheat, barely and beet and because of having 35 percent oxygen could be an appropriate fuel to substitute fossil fuel.

It is among clean fuels and the US and European Union countries started to use this fuel in the cars since 2001.

Khedmatgozar said that the first step for action has been taken and the Italian delegation will visit Amirabad Port to sign the agreement and be provided with land soon.

Upon guarantees from Iranian partner to implement the project, the contract will be signed by the foreign investor.

He said that around 40 hectares land is allocated for this project.

Kazakhstan and Turkey have invested in the area to build a wheat silo and plaster plant, so by signing the agreement, Italy would be the third foreign country to invest in Amirabad.