Iran and China will jointly build an industrial park in Iran's southern port city of Jask in Hormuzgan Province which is considered as important for expanding energy ties between the two countries.
Provincial Governor General Jasem Jaderi said that the industrial park will be built in an area of 2,000 hectares with the participation of Iran's private sector.
The industrial park, which is to be established at a cost of nearly $31 million, will be Iran's first joint industrial park, he pointed out.
Jask is a vital port for Iran's oil industry since 20 million barrels of crude oil are stored there. Iranian administration plans to turn Jask into an economic and industrial center and the country's second hub for exporting crude oil.
In 2015, Iranian President Hassan Rouhani said an oil terminal export is being constructed in Jask Port, which will become a major industrial and economic center in Hormuzgan province in the near future, adding that the port should turn into Iran's second hub for exporting oil.
Tehran and Beijing have developed a broad and deep partnership centered on China's energy needs and Iran's abundant resources as well as significant non-energy economic ties, arms sales and defense cooperation.
Tehran plays an important role in China's One Belt One Road initiative, and is to become an important railway connection and remain an oil supplier to China.
