According to Nader Sanagou-Motlaq, managing director of the economic zone, this is its biggest development phase, as the three previous development phases covered a total area of 114 hectares, IRNA reported.
According to Financial Tribune, the new phase will see development of the zone's information and communication technologies sector.
The closest special economic zone to Iran’s capital city Tehran, Payam has attracted a multitude of companies with significant investments in a wide range of areas, including ICT, pharmaceuticals, health, oil and gas.
Payam International Airport, located at the heart of the zone, is currently out of service after a plane crashed at the airport in January 2019.
The airport is owned by Iran’s Ministry of Information and Communications Technologies.