BAKU, Azerbaijan, June 28. Kazakhstan's investment in Shahid Rajaee Port, located in Iran's southern Hormozgan Province, will further boost the International North-South Transport Corridor (INSTC), said Mohammad Shakibinasab, Iran's Deputy Minister of Roads and Urban Development and Head of the Ports and Maritime Organization, during a ceremony marking the signing of an agreement to establish a logistics center at Shahid Rajaee Port with Kazakh investment.
According to him, Kazakhstan's investment will not only provide the port with the necessary equipment and expand its infrastructure but also create new jobs. In addition, it will enhance the operational capacity of Shahid Rajaee Port and other ports located along the International North-South Transport Corridor.
The deputy minister noted that the agreement signed between Iran and Kazakhstan guarantees the transit of 1.5 million tons of cargo annually through Iranian territory. The project is expected to increase Iran's share of the regional transit and freight transportation market, improve the economic performance of the country's ports, boost transit revenues, and strengthen Iran's position in international cargo transportation.
"Kazakhstan holds a strategic position in the regional transport network. As one of the region's key logistics and transit hubs, it can play an effective role in advancing the International North-South Transport Corridor. The participation of Kazakh investors in Shahid Rajaee Port will contribute both to infrastructure development and the provision of equipment, thereby accelerating the development of this international corridor and expanding economic cooperation between the two countries," he said.
Speaking at the event, Aman Malgazhdarov, Director of the QazExportPromotion Corporate Fund, said the project had been under continuous development for nearly a year, and the signing of the agreement marked an important milestone.
According to him, Kazakhstan views the project not merely as the construction of a platform, warehouse, or terminal, but as the foundation for establishing Kazakhstan's own logistics hub at Shahid Rajaee Port. He added that the project could play a significant role in the development of international transit corridors.
Malgazhdarov said Kazakhstan's investment commitment under the project amounts to approximately $1.5 million. At present, trade turnover between Iran and Kazakhstan stands at around $400 million. He expressed confidence that once the logistics center becomes operational, bilateral trade will increase by at least two to three times.
Shahid Rajaee Port covers an area of 4,800 hectares and has an annual cargo handling capacity of more than 88 million tons.
