The Khatam al-Anbiya Construction Base, a business conglomerate and the construction wing of the Islamic Revolution Guards Corps (IRGC), plans to build an artificial island in the Persian Gulf, near Kish Island, a free zone.
Based on a memorandum of understanding (MoU) signed by the commander of the construction base, Saeed Mohammad Eslami, and the managing director of the Kish Free Zone Organization, Gholam Hossein Mozaffari, on Friday, the artificial island will be used for recreational and residential purposes.
"With the implementation of the MoU, the Kish Free Zone Organization will own the artificial island with an area of 500,000 square meters (approximately 123 acres)," Mozaffari announced.
The completion of studies and implementation of dredging operations in the eastern basin of Kish Island and the construction of the artificial island have been included in the MoU, which is an engineering, procurement, construction and commissioning (EPCC) contract, Tasnim news agency reported.
Khatam al-Anbia Construction Base is the IRGC's economic branch with four subdivisions that are active in different fields, including petroleum, energy, and communication projects.