News ID: 274795
Published: 0441 GMT September 27, 2020

Official: Firm submits request to invest €500m in Chabahar port

Official: Firm submits request to invest €500m in Chabahar port

The potentials of the southeastern Iranian port of Chabahar have attracted many investors and a company has requested to invest €500 million in the ports’ development projects, a provincial official said on Sunday.

Mandana Zanganeh, the deputy governor of the southeastern province of Sistan and Baluchestan for economic affairs, added Chabahar has become one of the most strategic areas in Iran for businessmen and investors thanks to its numerous capacities, access to high seas and proximity to common border with Pakistan as well as the port being an economic zone offering investment incentives, IRNA reported. 

She noted that an investment company has proposed to set up a refinery in the port and produce fuel for heavy vessels, adding the project is estimated to need €400-€500 million in investments.

Zanganeh said €150 million will be invested in the first phase of the project.

She added a project is to be implemented in Sistan and Baluchestan Province to build a hotel as well as 300 suites in three phases.

Chabahar, as Iran's sole oceanic port, plays an important role in developing the country’s foreign trade as well as boosting its exports and imports.

The development of Chabahar port has been accelerated in the light of the special attention paid by the Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei to the zone and efforts by the Iranian President Hassan Rouhani's administration.

Earlier, five big ships carrying basic goods, including wheat, barley, soybean and corn, were berthed at the port in one week.



Resource: IRNA
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