A Chinese state-owned company has inked a memorandum of understanding (MoU) to invest $2 billion in Iran’s Sarakhs Special Economic Zone (SPEZ), the zone's managing director was quoted as saying in a media report.

The MoU is considered the biggest foreign investment in that region, Ahmad Sadeqi Golmakani told Irna, highlighting that foreign investments in Sarakhs Special Economic Zone have increased in the past year.

Several foreign investors from South Korea, Italy and China have recently voiced their willingness to invest in the region, he noted.

SPEZ, which covers an area of 5,290 hectares, is situated the northeast of Iran and connects ports on the Gulf of Oman and the Arabian Gulf to Central Asia, the Caucasus and Russia, the report said.