TEHRAN –Iran’s private sector has signed a 50-trillion-rial (nearly $1.2 billion) contract for developing Shahid Rajaie port in southern Iran, IRNA reported, quoting the head of Hormozgan Province Ports and Maritime Department as saying on Tuesday.

“Based on the signed investment agreement, the largest mechanized mineral terminal will be built at Shahid Rajaee Port, with the private sector’s funding,” Allah-Morad Afifipour said.

Speaking in the signing ceremony on Tuesday, the official noted “With the construction of this terminal, all the requirements of the country’s steel companies for importing feed stock through ports could be supplied.”

“Facilitating the exports of minerals is also another feature of this terminal and it is expected that the mineral export operations in this port would increase significantly,” he added.

Afifipour further said this terminal is going to create direct job opportunities for over 504 people, while reducing the costs of transportation in the port.

Located in Iran’s southern province of Hormozgan, Shaid Rajaie is the country’s largest and best-equipped container port.

Enjoying the most modern container terminals and port equipment, Shahid Rajaie accounts for 85 percent of the total loading and unloading at the Iranian ports.

Given its significant role in the country’s import and export of products as well as transit and transshipment via Iran, development of Shahid Rajaie Port is among the most important development projects in the country.

And to expedite its development, benefitting from the potential and capabilities of private sector is seriously pursued.

Designing, building, transporting, installing and launching 15 gantry cranes which increased the number of these cranes to 60 at Shahid Rajaie Port could be mentioned as some of the major projects implemented by the private sector to develop this port.

The port’s capacity is planned to rise 2.1 million TEUs to reach 8 million TEUs through implementing the first stage of the third phase of its development plan by the end of the current Iranian calendar year (March 19, 2020), Ports and Maritime Organization (PMO)’s director of engineering and infrastructure development said in mid-August.

Mohammadreza Allahyar said: “We have implementation of the third phase on agenda and it has already some good progress.”

Once the third phase is fully implemented, the vessels with the capacity of 18,400 TEU can berth at the port, he added.

EF/MA