Iran to invest $1.2 billion in special energy zone

ILNA: Iran has opened a $1.2-billion L/C for investment in Lamerd special energy zone in southern Fars province, Iranian deputy industry minister Mehdi Karbasian said.

The Lamerd special energy zone offers facilities to investors, such as importing goods without paying any charges, benefiting from tax exemption, and participating by up to 49 percent in foreign investments, he added.

He further said that a contract, worth €1.8 billion, has been signed with a Chinese company to implement seven steel projects, each with the capacity to add 800,000 tons to the country’s steel products output.

The MCC and China Export and Credit Insurance Corporation (Sinosure) have jointly invested $20 billion in previous projects in Iran. Press TV reported that with the addition of 12 more projects, the investment is estimated to increase to $30 billion.

Iran totally manufactured 17.417 million tons of steel products last year, with 2 percent growth compared with the preceding year.

Also, crude steel production reached 14.873 million tons, showing 5.7 percent growth year on year.



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