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Liquidity from Stock Market could play a role in Iranian port development

Transport Materials 8 September 2020 18:37
Liquidity from Stock Market could play a role in Iranian port development

TEHRAN, Iran, Sep.8

Trend:

Iran's ports could be developed by using the capital that is invested by people in the stock exchange, said the head of parliament's port and maritime committee.

"Considering the US sanctions which limit the attraction of foreign investments, capital accumulated in the stock market could be used for the development of ports which would also help the country's economy, "said Homayoun Yusefi, Trend reports citing Ports and Maritime Organization.

"The Ports and Maritime Organization has made efforts in this regard to the development of ports," he said.

"New transportation corridors in the sea would be financially attractive since maritime transportation is considered safest and cheapest," he said.

"Iran's neighbors including Pakistan have cooperated with China to establish new corridors in Gwadar Port while Iran's northern neighbors Azerbaijan has invested considerably to install ports to have a strategic position in the Caspian Sea," he said.

"Iran can develop and increase activities in its northern ports from 30 million tons to 100 million tons," he added.

"Chabahar Port could reduce transportation costs and should be developed. The port has a strategic location and any global businesses could transport goods in the region via Chabahar Port and reduce the transportation duration though this route," he said.

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