Baku, Azerbaijan, Oct.14
By Fatih Karimov - Trend:
Iran needs $750 million to implement the 2nd and the 3rd develop phases of the Shahid Rajaee Port in Strait of Hormuz.
Mohammad Saeidnejad, the managing director of the Ports and Maritime Organization of Iran, said the 2nd phase of the port's development projects is being implemented using Chinese investments, Iran's Fars news agency reported on October 14.
The 3rd phase of the development project is estimated to cost $500 million, he noted.
Ninety percent of Iran's container traffic passes through Shahid Rajaee Port.
The loading and unloading capacity of Shahid Rajaee Port currently stands at 88 million tons per year.
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