Iran invests $4 billion in developing ports

Business Materials 2 July 2011 15:00 (UTC +04:00)

Azerbaijan , Baku, July 2/ Trend /

A total of $4 billion has been invested in the development and upgrading of Iran's ports, Mehr News Agency quotes Managing Director of the Ports and Shipping Organization Ataollah Sadr, as saying.

"The development project worth $4 billion is currently underway while domestic resources and private sector provide financial credit of the investment," he said.

The projects will develop and upgrade the ports by constructing terminals and new harbors in old ports.

Most of the country's ports will be developed by governments and private sector investment, he stressed.