According to Iranian authorities, a well-known German company is investing about 400 million euros in a major petrochemical project in the southeastern port of Chabahar.
On Monday, Fars quoted a senior Iranian official saying the German company would invest in the machinery and equipment needed for a methanol project in Chabahar.
Ahmad Jamali, deputy chairman of the Supreme Council for Free Trade Zones of Iran, did not disclose the name of the German company, but stated that it previously worked in Iran.
“The necessary permits were obtained from the Office for Foreign Investments, the Ministry of Oil and Free Zones, and the implementation phase will begin in the near future, since the investor has been assigned an area for work,” Jamali said.
Chabahar, Iran’s largest seaport in Oman, has experienced a boom in foreign investment in recent years, primarily because India wants to help expand the port to facilitate trade access to Afghanistan and Central Asia.
Unconfirmed media reports indicate that the United States made certain exceptions to its sanctions against Iran to allow countries like India to continue their investment plans in Chabahar.
It seems that companies from Germany and other countries use the same exceptions to be active in Chabahar.
Jamali also said that the Free Trade Area Council initially agreed that the British bank would need to open a branch in Chabahar, and said that the central bank of Iran should give its consent on this issue.