Indian, Chinese firms invest in Maku free zone

TEHRAN, Dec. 16 (MNA) – Managing director of Maku Free Zone Organization has announced that Indian and Chinese investors are building a power plant as well as a ferroalloy steel factory in the free zone.

Speaking at a press conference, Hossein Forouzan said “according to statistics, 16 billion dollars of foreign transit entered the country through Bazargan border last year while the same amount was exported via other borders."

Forouzan rejected the existence of very long truck lines at Bazargan border adding “a total of 400 trucks are commuting between the two countries.”

“Due to security issues that have emerged in Turkey in the recent months, Turkish Customs stops working for a couple of hours during the night which might cause some delay in the process,” he added.

The managing director of Maku Free Trade and Industrial Zone went on to say that “currently, one arrival line and one departure line are active at the border while two more lines have been constructed and will soon become operational to facilitate the truck traffic.”

“A total of 1.4 billion dollars of goods have been exported through Bazargan Customs of which 50 million dollars belonged to the free zone itself,” he underlined.

The official further reported the presence of two Chinese and Indian companies in the free zone asserting “a Chinese firm is constructing a 500-MW power plant with a share of 70 per cent while an Indian company is building a ferroalloy factory with 150 million dollars of investment."

Foruzan deemed lack of direct flights as one major weakness of the region; “the zone’s airport is almost ready and all its airlines will be established by the beginning of the next Iranian calendar year,” he concluded.

 

HA/3000717

 

News Code 112863

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