PMO: private sector investments in Iran's ports reaches USD4.4 billion

(MENAFN) The Ports and Maritime Organization (PMO) has reported that private sector investments in Iran's ports have reached a total of 2.2 quadrillion rials (approximately USD4.4 billion) through 362 active contracts as of December 2024. Hassan Yadollahi, the director of Economic Affairs at PMO, emphasized that this investment has facilitated the creation or development of storage capacities for over 233 million tons of various goods, involving both domestic and foreign private entities.

Yadollahi also pointed out that the average annual growth rate of private investment in the country's ports has been around 24 percent. This trend aligns with Iran's broader economic strategies, particularly the Seventh National Development Plan and the country's sea-oriented development directives. He noted a significant 150 percent increase in the value of private sector investment projects over the past three years, compared to the period ending in 2021.

As part of its ongoing efforts, PMO has set a target to attract 300 trillion rials (about USD600 million) in private sector investment by the end of the current Iranian calendar year, which concludes in March 2025. This goal is aimed at further enhancing the infrastructure and operational capacity of Iran's ports to support trade and economic growth.

These developments highlight Iran's strong commitment to improving its maritime infrastructure and increasing private sector involvement in port development, which plays a key role in expanding the nation's economic activities and facilitating international trade.

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