Iran discloses value of private sector investment in its ports

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The private sector has invested 160 trillion rials (about $3.8 billion) in Iranian ports recent years, said Deputy Minister of Roads and Urban Development and Chairman of the Iranian Ports and Maritime Organization (PMO) Mohammad Rastad, Trend reports citing the PMO.

Rastad noted that these investments were made to develop the country’s ports, especially the ports in southern Iran and the Shahid Rajaee port.

The deputy minister added that it is necessary to encourage investors to upgrade maritime vehicles and develop infrastructure.

According to the chairman, it is planned to put into operation 3 platforms on loading of oil and oil products in the Shahid Rajaee port in the Hormozgan Province (southern Iran) in the current Iranian year (began March 20, 2020).

More 20 million tons will be added to the loading and unloading capacity of oil products in Iranian ports with the commissioning of these platforms in the Shahid Rajaee port. With the commissioning of the third phase in the Shahid Rajaee port, the container capacity in this port will reach 8 million TEU.