A private sector company from Italy signed agreement to make $450 million investment in Amirabad port of Behshahr, Northern Iran, Director of Ports and Maritime Administration of Amirabad Special Economic Zone said on Tuesday to IRNA, the Iranian press agency.
Ali Khedmatgozar, who did not reveal the name of the Italian investor, told IRNA that the investment is for producing bioethanol fuel from inedible wheat by Italian private sector. Bioethanol is produced from agricultural crops waste, such as wheat, barely and beet and because of having 35 percent oxygen could be an appropriate fuel to substitute fossil fuel.
“It is among clean fuels and the US and European Union countries started to use this fuel in the cars since 2001”, INRA writes.
Khedmatgozar said that the first step for action has been taken and the Italian delegation will visit Amirabad Port to sign the agreement and be provided with land soon.
Upon guarantees from Iranian partner to implement the project, the contract will be signed by the foreign investor.
He said that around 40 hectares land is allocated for this project.
Kazakhstan and Turkey have invested in the area to build a wheat silo and plaster plant, so by signing the agreement, Italy would be the third foreign country to invest in Amirabad.