Apr 21, 2016, 11:37 AM
News Code: 82044217
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China eyes investment in Chabahar

Chabahar, April 21, IRNA- Managing Director of China Double View Manufacturers Company, Nick Yi, has said that exploitation of the strategic position of ports and Chabahar Free Zone is very important for Chinese investors, businessmen and economic activists.

Speaking in a meeting with the Economic Affairs Deputy of Chabahar Free Trade Zone, Nick Yi reiterated that Chinese Trade and Economic Companies are eager to invest in Chabahar economic and strategic zone.

He added that the company, which is supported by Chinese Government, groups over 70 companies active in manufacturig airport, railway, highway, bridge, berth, port, urban power and water plants, building and in waterways and petrochemical engineering.

Having AAA ranking in China, this company has over 1,700 technical and professional staff and its machineries worth $530m, he said.

Managing Director of the Chinese company said that the annual turnover of 70 Double View subsidiary companies is over $150b and it is active in 156 countries.

Member of the Presiding Board and the Economic Affairs Deputy of Chabahar Free Trade Zone, Abdol Rahim Kordi, said in turn that Chabahar is regarded as the linkage point of three continents and it would be possible for 800 million residents of the Commonwealth of Independent States (CIS), Afghanistan to be connected to oceans via the region.

Chinese investment delegation in a two-day trip to Chabahar visited port infrastructures, berths, Shahid Beheshti and Shahid Kalantari Ports' developing plan, Mokran Petrochemical Company and Chabahar Free Zone.

Chabahar is a free port (Free Trade Zone) on the coast of the Gulf of Oman. It is situated on the Mokran Coast of the Sistan-Balouchestan province and is officially designated as a Free Trade and Industrial Zone by Iranian government. Due to its free trade zone status, the city has increased in significance in international trade.