South Korean company eyeing investments in Iranian projects

/By AzerNews/

By Sara Rajabova

South Korea’s company has proposed to invest in Iran’s infrastructure projects.

Hyundai Development Company Group intended to make investments in infrastructure and superstructure projects in the country’s northern port city of Anzali, according to the Iranian media.

The proposal was reportedly raised during a recent meeting between an HDC representative and Ali Naeimi, the director general of Gilan Province Ports and Maritime Organization.

In the meeting, Naeimi said the development of Anzali Port is necessary specifically given that it could be used for the transit of goods from Caspian states to Europe and elsewhere.

This, he emphasized, can be carried out by transporting goods from Anzali to Iran’s southern port of Bandar Abbas and thereon to Europe and beyond.

Anzali is Iran’s most important northern port. It has 10 jetties with capacity 4 million tones of general goods and handles such commodities as steel, timber, automobiles.

Shipments departing from Azerbaijan, Russia and Turkmenistan get discharged at this port.

Hyundai currently has a share of 50 percent in a project to expand South Korea’s Pusan Port, which is known as the fourth largest container port in the world.

The project is meant to provide the capacity to handle 13 million Twenty-Foot Equivalent Unit of trans-shipment cargo by 2020 ranking it number two in the world.

Iran media has recently reported that South Korea’s Hyundai held negotiations with Iran for participation in the country’s petrochemical projects.

Hyundai is the latest energy company to declare interest in Iran’s plans for “a second leap in its petrochemical industry” after negotiations with the likes of Germany’s Linde and BASF and Royal Dutch Shell.

Amid improvement Iran’s relations with foreign countries and expectations on soonest lifting of sanctions, the Asian companies also voiced interest in participation in Iranian projects.