TEHRAN – Iran’s Ports and Maritime Organization (PMO) has signed new contracts and memoranda of understanding with the private sector worth more than 200 trillion rials ($400 million), the minister of Transport and Urban Development said.

Farzaneh Sadegh said the agreements align with President Masoud Pezeshkian’s emphasis on developing the maritime economy and expanding port capacity to support trade growth.

She said a range of contracts and cooperation agreements have already been concluded between the private sector and the Ports and Maritime Organization, aimed at boosting port throughput, improving infrastructure and upgrading existing facilities.

“In the past couple of days alone, following the necessary coordination, the organization has signed contracts, agreements and memoranda with the private sector valued at over 20 trillion tomans,” Sadegh said, according to a statement from the ministry.

She said the deals cover multiple projects across several key ports, including Chabahar, Amirabad and Shahid Rajaee, as well as four or five other ports.

Iran has been seeking greater private sector participation in port development as part of broader efforts to strengthen trade corridors, expand transit capacity and reduce reliance on public funding amid fiscal constraints.

EF/MA