Managing Director of Maku Free Trade Zone said Turkish companies have expressed their interest to construct a $6bn petrochemical project in the Iranian northwestern city of Maku.
‘The Turkish investors have voiced their preparedness to fully construct the project which is estimated to cost 6 billion dollars for its construction,’ said Hussein Forouzan.
Maku is a free trade zone located in West Azerbaijan Province.
Forouzan said in a Shana report that the zone enjoys a major advantage that is easy access to the Turkish market with very low transportation costs.
Given its geographical situation, Maku is a favorable investment target for construction of industrial units including petrochemical plants.
At the 2006 census, the city’s population was 41,865, in 10,428 families. It is situated 22 kilometers from the Turkish border in a mountain gorge at an altitude of 1634 meters.