Free Trade Zones

Development projects worth $ 14.7 billion inaugurated in free trade zones and special economic zones


TEHRAN – Some 52 development projects worth 620 trillion rials (over $ 14.7 billion) have been commissioned or started in Iran’s free trade zones and special economic zones Monday, as part of the 74th series of groundbreaking ceremonies since the previous Iranian calendar year (ended March 20).

President Hassan Rouhani inaugurated the mentioned projects via video conference in various provinces, including East Azerbaijan, West Azerbaijan, Khuzestan, Hormozgan, Gilan and Sistan-Baluchestan, the Mehr news agency reported.

Implemented in the free and special economic zones of Kish, Qeshm, Arvand, Aras and Anzali, the said projects will provide direct employment to approximately 2,090 people.

As reported by IRNA, in this series of inaugurations, 15 production and development projects with a total investment of 26.19 trillion rials (approximately $ 623 million) were put into operation in the Aras free zone , which will create jobs for 575 people, while 11 infrastructure projects worth 2,250 billion rials (approximately $ 53.57 million) have been inaugurated in the Arvand free zone, which will directly supply employment for 260 people.

In addition, 15 projects have been implemented in the Qeshm Free Trade Zone, the investment value of which is 2480 trillion rials (approximately $ 590 million) and will create jobs for 880 people. In the Kish Free Zone, nine projects worth 26.8 trillion rials (about 640 million dollars) were inaugurated, creating employment opportunities for 375 people.

The president also ordered the start of several development projects with a total investment of 420 trillion rials (10 billion dollars). These projects will create jobs for 7,117 people once implemented.

One of the most important projects, which was inaugurated on Monday in the Arvand free trade zone, was the Shalamcheh-Basra railway.

The Shalamcheh-Basra railway line that connects the Iranian city of Shalamcheh in southwestern Iran to Basra in Iraq is 32 kilometers long, along which a 700-meter bridge is also built.

According to the secretary of the Higher Council of Iranian Free Zones, Hamidreza Mo’meni, currently, 621 development projects are being implemented in free trade zones and special economic zones, which have an average physical progress of 50 percent.