Turkmenistan: Iranian Companies Increase Investments in Infrastructure Projects

Iranian investments in Turkmenistan are set to increase, as an additional $100 million is injected into four projects.

According to Tehran's ambassador to Ashgabat, Mohammad Reza Forqani, the Pars Energy Company is building a natural gas storage facility in Turkmenbashi, a rail link and dock, and a hotel at the nearby Avaza resort area.

Iranian companies are also constructing 256 kilometers of the Kazakhstan-Turkmenistan-Iran railroad within Turkmen territory, he told the Mehr news agency on June 17.

Annual trade turnover between the two countries was $3.2 billion in Iran's last calendar year, the report adds.