Payam Airport absorbs over $238m of investment in a year

July 13, 2020 - 15:23

TEHRAN- The managing director of Iran’s Payam International Airport announced that over 10 trillion rials (about $238.09 million) has been invested in Payam Special Economic Zone during the past Iranian calendar year (ended on March 19), IRNA reported.

Mentioning the rise of the number of flights from this airport, Nader Sanagou Motlaq said as new flight paths were added, some good amount of investment was also made, in a way that many investors were attracted to this port last year.

The capacities existing in Payam Zone have encouraged the Iranian and foreign investors to make more investment in this zone, he noted.

The official mentioned reviving the production units in Payam Special Zone as one of their programs and said, “We are planning to reactivate 12 companies in the zone”.

Sanagou Motlaq further referred to job creation as another program they have on the agenda in this year and said, “Through the fourth development phase of the zone, 2,000 new jobs are expected to be created this year, and the figure is anticipated to be 10,000 in the next five years”.

Providing necessary facilities for the presence of companies and renowned brands in the fourth phase is one of the major underway measures, the official underscored and mentioned the establishment of the country’s first communication and information technology park and setting up a permanent communication and information technology exhibition as some other programs of this phase.

Last week, Sanagou Motlaq had announced that an aircraft engine repair center is going to be established in this airport.

According to the official, as the country’s biggest aircraft overhaul center, the unit will be established in cooperation with MAPNA Group.

He made the remarks in a meeting with MAPNA Group’s Head Abbas Aliabadi, saying that establishing this center is going to neutralize the negative impacts of the U.S. sanctions in this sector.

Located in Alborz Province, Payam is the closest special economic zone to Iran’s capital city Tehran, which has attracted a multitude of companies with significant investments in a wide range of areas, including ICT, pharmaceuticals, health, oil, and gas.

Payam International Airport, located at the heart of this zone, is owned by Iran’s Information and Communication Technology Ministry.

The airport was established in 1997 as a cargo-only airport.

Payam Special Economic Zone's fourth development phase was launched in April on an area of 165 hectares.

According to Sanagou Motlaq, it was its biggest development phase as it covers an area of 165 hectares, while the three previous development phases covered an area of 114 hectares.

The new phase will see the development of the zone's information and communication technology sector.


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