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Iran to invest over $50M in Anzali port development plans

Business Materials 14 January 2015 12:54 (UTC +04:00)

Baku, Azerbaijan, Jan. 14

By Fatih Karimov - Trend: Five development projects will be implemented in Iran's Caspian Sea port of Anzali at a cost of 1.8 trillion rials (about $51.5 million).

Ali Naeimi, Director General of Gilan Province's Ports and Maritime Department, said the projects will come on stream in the next Iranian fiscal year, starting on March 21, Iran's IRNA news agency reported on Jan. 14.

The projects include building wave breakers, docks, and warehouses, he said, adding that the project will increase shipment capacity by 20 percent.

Anzali port as a part of Anzali Free Trade Zone is located in the International North-South Transport Corridor (INSTC), which joins Indian Ocean and the Gulf to the Caspian Sea through Iran and then reaches to St. Petersburg and North Europe via Russia.

Mehran Almasi, deputy head of Iran's northern Gilan province's ports and marine administration told Trend on Sept. 19 that foreign traders, in particular investors from neighboring countries can invest in different sectors in the port including packing and depots.

The Islamic Republic encourages foreign investors to implement various projects for developing the port and providing services for shipping lines, he added.

Development of the Anzali port is among the Iranian administration's plans for boosting the Gilan province's transit capabilities.

Edited by CN

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