Managing Director of Sarakhs Special Economic Zone (SPEZ) Ahmad Sadeghi Golmakani said an MoU had been inked with a Chinese firm for making two billion dollars of investment.

The official made the announcement recalling that foreign investment in the Iranian SPEZ had soared over the past year.

“In the past two year, various investors from South Korea, Italy and China have visited Sarakhs region,” stressed the official noting that contracts had been signed to allocate necessary land to investors.

In the same line, one of the largest state-owned Chinese companies has voiced readiness to make investments in the region in areas of oil, gas, power plant building and petrochemical industries. The firm has so far made major investments in African countries, Mongolia and Central Asia in addition to constructing the largest industrial park for Samsung Group.

Sadeghi Golmakani went on to add that the Chinese firm, in collaboration with two Iranian counterparts, will make two billion dollars of investment in Sarakhs SPEZ in a bid to bring about a considerable change in industry and commerce of eastern Iran.

Since the time Sarakhs SPEZ was constructed, foreign investors from Georgia, Turkey, Turkmenistan and Pakistan have make investments with 35 million dollars in mini-refinery industry, rice processing as well as production of construction materials.

Given its geographical conditions, Sarakhs SPEZ is in the center of Economic Cooperation Organization (ECO) member states and due to its strategic condition remains as a golden gate towards Central Asian countries, China and Russia in addition to bridging major Central Asian markets to Persian Gulf littoral states, Europe as well as Afghanistan and Pakistan.

The zone is 150 kilometers east of Mashhad and 15 kilometers from the city of Sarakhs and borders Turkmenistan in the north and the east.

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