Economy, Auto

Hyundai Eyes Anzali Port

Hyundai Eyes Anzali Port
Hyundai Eyes Anzali Port

Representatives from South Korea's Hyundai Corporation and officials from Iran's Caspian Sea Port Organization have discussed launching a car production venture in Anzali Port.

Masoud Naimi, director of Ports and Maritime Affairs of Gilan province, said an exploratory group has been set up to discuss possible future cooperation, the Persian website Donyaye Khodro cited Tasnim News Agency as reporting.

Hyun Lee-sung, Hyundai's representative, said Anzali Port is likely to need a significant amount of investment to ready it for future exports and increased trade. The northwestern Iranian city, located on the western edge of Caspian Sea, has historically been a major entry/exit point to and from Iran.

Historically, the port has been an area of lumber import, but recent advances in access and technology have transformed it into a potential area of auto production.

With direct access to the former Soviet states, including Russia's southern federal district city of Astrakhan, Anzali could become a major source of auto production for the Commonwealth of Independent States region and Iran.