China to invest $2b in Sarakhs Special Economic Zone

EghtesadOnline: Managing Director of Sarakhs Special Economic Zone Ahmad Sadeqi Golmakani said in this northeastern province on Sunday that a Chinese company would make two billion dollars of investment in this region.

News ID: ۷۷۲۶۰۸

25 December 2016

Talking to IRNA, Golmakani underscored that a state Chinese company has inked a memorandum of understanding (MoU), worth two billion dollars, with the Iranian side to make investment in Sarakhs Special Economic Zone.

He said the MoU is considered as the biggest foreign investment in this part of the country, adding the amount of foreign investments has skyrocketed in Sarakhs Special Economic Zone in the past year.

He added several foreign investors from South Korea, Italy and China have recentlyvoiced their willingness to make investment in this region.

Sarakhs Special Economic Zone with a span of 5,290 hectares is situated northeast of Iran and connects ports of the Gulf of Oman and the Persian Gulf to Central Asia, the Caucasus and Russia.

The zone, due to its geographical location which is in the center of ECO countries, is being considered as the golden gate for entry into Central Asia, China and Russia and is a bridge for connecting major trade markets in Central Asia with the Persian Gulf countries in south of Iran, Europe in the west and Afghanistan and Pakistan in east of the country.

The zone is 150 km east of Mashad and 15 km from the city of Sarakhs and borders Turkmenistan in the north and the east.