“Makran, with its unique geo-economic position, can become a hub of economic diplomacy and one of Iran’s civilisational projects on the global stage,” Bazyar said at the inauguration ceremony.
The power project, which includes a substation, transmission lines and related infrastructure, required €90 million and an additional 12 trillion rials ($220 million) in investment, he said.
Shastan, part of Iran’s state-owned Social Security Investment Company (Shasta), has invested more than €500 million in the Makran region since 2012, mainly in infrastructure including power, water desalination, storage and industrial facilities.
Bazyar highlighted Chabahar as Iran’s only ocean port, offering the shortest transit route from the Indian Ocean to Iran’s central plateau. He said transport costs for petrochemical and industrial goods shipped from Chabahar were 25-30% lower than from Assaluyeh, Iran’s main petrochemical hub, giving the port strategic weight.
“Chabahar can become a hub for heavy industries and a key anchor for Iran’s economic diplomacy, while also serving as a bridge for regional partnerships with Pakistan, Afghanistan and Central Asia,” he said.
The executive noted that Shastan’s projects emphasised the use of local labour and compliance with environmental standards. “Unlike many industrial regions that rely on non-local workers, we have trained and hired local staff,” he said, adding that sustainability is central to development plans.
Bazyar called Chabahar a “civilisational project” designed not just for industrial output but also for strengthening regional security and linking Iran’s economy more closely with global markets.
He said Shastan’s investments are long-term and not yet revenue-generating, but added: “We are confident that the completion of infrastructure will bring major economic returns for the country.”