BAKU, Azerbaijan, October 15. Iran's Ports and Seas Organization has set a target of investing 600 trillion rials (about $1.4 billion) by the private sector in Iranian ports during the current Iranian year (from March 20, 2024, through March 20, 2025), Iran's Deputy Minister of Roads and Urban Development and Chairman of Port and Maritime Organization Ali Akbar Safaei told reporters, Trend reports.
He claims that Iranian ports have identified projects worth a total of 960 trillion rials, or roughly $2.17 billion, for the current year.
Iran plans to grow its maritime economy twice a year, according to Safaei.
The official underlined that the private sector invested 550 trillion rials (about $1.24 billion) in the country's ports during the last Iranian year (from March 21, 2023, through March 19, 2024). The investments create conditions for both economic development and new jobs.
To note, the current throughput capacity of Iranian ports is more than 285 million tons. Iran is taking steps to increase port capacity by 500 million tons.