The piece of land in Special Economic Zone Lotus is being allocated to Iranian companies based on the memorandum of understanding (MoU) signed between Anzali Free Zone and Lotus, according to Amin Ofoqi, head of the free zone's public and international relations department.
'By the allocation, the industrial region will be turned into a hub for processing the Iranian semi-finished products and their export to the Eurasian countries,' IRNA quoted him as saying.
'Iranian companies will have access to the countries' markets at the lowest cost, and enjoy the special bonus specific to Lotus, including the exemptions envisaged for trade exchange with Eurasian businessmen,' said the official.
Managing Director of Anzali Free Zone Organization (in the norther province of Gilan) Reza Masroor, and his counterpart in Lotus Sergey Milushkin said that the move was a step toward boosting economic and trade relations between Iran and Russia.
Astrakhan is a city in southern Russia on the northern coast of the Caspian Sea with a population around 530,000.