Economy, Domestic Economy

$5b Investment in Persian Gulf SEZ

$5b Investment in Persian Gulf SEZ$5b Investment in Persian Gulf SEZ

More than $5 billion has been invested in energy-intensive industries of the Persian Gulf Special Economic, Mining Industries and Metal Zone, said Masoud Hendian, the managing director of the zone. The official told IRNA on Monday that so far $3.281 billion has been absorbed and put into operation and that $1.9 billion is being invested in industrial, mining, petrochemical, upstream and downstream energy consuming cycles for construction and installation of equipment.  “Proper infrastructure and strategic facilities have turned the Persian Gulf Special Economic Zone into one of the most important grounds for investment in the field of energy consuming industries. So far several ambassadors, commerce attaches and trade delegations from different countries have visited the zone.” The objectives behind the establishment of the zone, he added, are to attract investment and support for economic activities, transfer of technology, non-oil exports, creation of job opportunities, upgrading managerial skills and promoting product quality. The Persian Gulf Special Economic, Mining Industries and Metal Zone is located 13 km west of the city of Bandar Abbas.