TEHRAN, Iran, Aug.24
Trend:
Iran's private sector has invested $1.1 billion on the terminal for mechanized production of steel and minerals at Bandar Abbas's Shahid Beheshti Port in Hormozgan Province, as part of 331 construction projects, said Deputy Minister of Road and Urban Development.
"Private sector companies have signed a deal with Ports and Maritime Organization of Iran to invest in the mechanized mineral terminal at Shahid Rajaee last year. The project is currently in the planning stage which will be implemented soon," said Mohammad Rastad, Trend reports citing IRNA.
"The terminal which is considered an important project for the country would help the export of mineral materials and steel," he said.
"The exports of steel are projected to reach 55 million tons by 2025. Furthermore, the following terminal would reduce cargo loading and unloading times due to its connection to the railway," he said.
"Private sector companies have invested $3.7 billion on Iran's ports since 2013. A total of 331 projects have been financed by the private sector for facilities, equipment, supporting centers and production plants in Iranian ports," he said.
"These projects played a major role in improving Iran's ports," he said.