Tehran, Iran, Aug.31
Trend:
Astara Port is predicted to connect to other Caspian Sea states and increase Iran capacity in transit, said Kaveh Port and Marine Services Chief Executive.
"Increasing investments in Astara Port and the close distance between Astara Port and ports of [Azerbaijan's] Baku and Russia's Astarakhan will turn the port into trade hub in the region," said Alireza Cheshmjahan, Trend reports citing ILNA.
The official emphasized that Astara Port' geographical location is remarkable for grain transit via the Caspian Sea states, and particularly Russia.
"The project on the installation of silo on 10 hectare area with capacity of storing 120,000 tons of grain for transit via Caspian Sea and of necessary equipment for the ships transporting grain is being implemented, and its first phase worth €18 million investment will start operating by the end of current Iranian year [started March 21, 2019]," he said.
"Astara port can be a route for import and exports of goods from other regions such as Iraqi's Kurdistan region; moreover, we can be linked to Europe and transfer goods by connecting to railway network in Astara port, and certainly investments in this sector will increase," he indicated.
"So far, $95 million were invested in the project and another $95 million are to be invested during other phases of the project. It is predicted that in case Iran national currency will not change, $238 million will be invested to complete all four phases in the port," he noted.
"Astara Port is located on the area of 55 hectares. It is expected that after the project commissioning, the port capacities in unloading and loading cargo and goods such as grain and oil products will increase to 3.5 million tons per year," he said.
"Use of a new 75- meter quay that is under construction alongside the existing 205-meter quay will increase port's operations to one million tons of goods," he added.