Chinese-financed Arvand market construction begins
A number of high-ranking officials of the two sides including the consul and commercial attaché of the Chinese embassy in Tehran, officials from Abadan and Khorramshahr cities, and a group of Iranian and Chinese businessmen were present at the inaugural ceremony.
Speaking at the event, managing director of Arvand Free Trade Zone Mohammad Abbasi said that China will construct the market under a project finance deal.
The project will be implemented in three phases at a total cost of $75 million in direct investment, he said, noting that more than 5,000 Chinese companies will work or sell their products in the zone.
Iran has made 33 hectares in the industrial zone available to the Chinese side to establish the market near Etka department store in Khorramshahr, he added.
In the first phase of the market’s work some 5,000 jobs will be created, he said adding that the number of jobs will increase in subsequent phases.
He expressed hope that implementation of the project, which will take five to six years, will create new job opportunities for the youth of the region.
Home appliances, cars, bikes and foodstuffs are among the Chinese commodities which will be supplied to the market, he noted, adding that Arvand Free Trade Zone plans to bolster export of Iranian commodities.
Chinese companies will invest in Iran with the aim of reducing the distance to target markets in Iran's neighboring countries about 5,000 kilometers, he noted.