Iran’s private sector to invest $500M in ports development projects
Baku, Azerbaijan, Dec. 14
By Fatih Karimov - Trend:
Iran's private sector will invest around 17 trillion rials (some $500 million based on free market exchange rate of 34,000 rials) in the projects for development of the country's ports by the end of the current Iranian calendar year (March 20, 2015).
Head of Iran's Ports and Maritime Organization, Mohammad Saeednejad said that the organization will also invest 8 trillion rials (some $230 million) and will issue 3 trillion rials (some $90 million) worth of bonds in this line, Iran's Fars news agency reported on Dec. 14.
The private sector invested 21.7 trillion rials (some $650 million) in Iran's ports in the past Iranian calendar year (ended on March 20, 2014), he added.
Saeednejad said in November that the country's ports have the capacity of reloading and loading 185 million metric tons per year.
The official said that during the first seven months of the current year (March 21-Oct. 22), reloading and loading at ports showed a 9 percent increase, adding that this trend will continue up to the end of the year.