Iran allocates over $46 million for development of Caspian Sea ports

Business Materials 14 September 2014 16:05 (UTC +04:00)

Baku, Azerbaijan, Sept.14

By Fatih Karimov - Trend:

Iran Ports and Maritime Organization (IPMO) has allocated $46 million for the development of ports in northern Gilan and Mazandaran provinces, neighboring the Caspian Sea.

This year, some $300 million will be spent on the development of ports nationwide, of which $46 million will be spent in northern Gilan and Mazandaran provinces, Iran's IRIB reported on September 14.

Shipment has increased by 52 percent since the beginning of the current year at Amirabad, Noshahr, and Fereidoonkenar ports, which are the most important ports in the two provinces.

Over 12 million tons of goods were transited via Iran in the past Iranian calendar year, which ended on March 20, 2014, a 4 percent rise year on year.

Iran earns some 14 trillion rials (about $437.5 million) annually through transiting goods via ports.

In September 2013, Iranian Transport and Urban Development Minister Abbas Akhoundi said that Iran plans to quadruple transit of goods to as much as 50 million tons per year.