Export, import of commodities in Iran’s Bushehr port rise 69 percent in 6 months
Date
10/28/2024 9:32:37 AM
(MENAFN) The volume of goods handled at Iran’s Bushehr port surged by 69 percent in the first half of the current Iranian calendar year (March 20 to September 21), compared to the same period last year, according to Mohammad Shakibi-Nasab, head of the Ports and Maritime Department of Bushehr province. During this six-month span, 3.37 million tons of goods were loaded and unloaded, including 1.593 million tons of non-oil goods and 1.779 million tons of oil products.
Nationwide, Iran’s ports experienced a seven percent increase in cargo handling, with 81 million tons of goods processed in the first half of the current year, up from 76 million tons during the same period last year. Iran's ports play a critical role in its economy, serving as key entry and exit points for trade amidst ongoing U.S. sanctions. This strategic role has prompted the government to prioritize port expansion projects and boost support for port development and investments.
To meet the demand for expanded port capacity, Iran’s Ports and Maritime Organization (PMO) has set an ambitious agenda to double the nation’s port capacity within the next five years. As part of this goal, the PMO aims to attract 300 trillion rials (around USD600 million) from the private sector by March 2025, with these investments earmarked for enhancing port infrastructure and operational capabilities.
Since July, the PMO has attracted nearly USD1.7 billion in foreign and domestic investments. According to PMO Head Ali-Akbar Safaei, the organization has secured around 620 trillion rials (USD1.24 billion) in domestic investments and USD470 million in foreign investments for Iran’s port and maritime sectors. Safaei highlighted that this level of private investment is substantial relative to the government’s total budget allocated for the maritime sector.
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