Private sector investment in Iran's ports reaches USD4.4B

2024-12-23 08:24:48

(MENAFN) The Ports and Maritime Organization (PMO) reports that investments from the private sector in Iran’s ports have hit 2.2 quadrillion rials (roughly USD4.4 billion), with 362 ongoing contracts as of December 2024.

Hassan Yadollahi, the PMO’s director of Economic Affairs, emphasizes that this funding has facilitated the establishment or continuous expansion of storage facilities for more than 233 million tons of diverse goods by both domestic and international private companies.

Yadollahi notes that private investment in the country’s ports has grown at an average annual rate of about 24 percent.

This surge is in line with Iran’s national economic strategies, such as the Seventh National Development Plan and initiatives for maritime development. Over the past three years, the value of private sector investment projects has risen by 150 percent compared to the period ending in 2021.

Furthermore, PMO aims to secure 300 trillion rials (approximately USD600 million) in private sector funding by the conclusion of the current Iranian calendar year (March 2025). This goal is set to improve the infrastructure and operational efficiency of Iran’s ports.

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