TEHRAN – Iranian Ports and Maritime Organization (PMO), on Thursday, signed six memorandums of understanding (MOU) with domestic companies for investing 100 trillion rials (about $2.38 billion) plus €800 million in development projects of Shahid Rajaee port’s hinterland.

The signing ceremony was attended by the Iranian Transport and Urban Development Minister Mohammad Eslami, and the PMO Head Mohammad Rastad.

The mentioned investments will be made in a variety of projects including zinc, lead, manganese, and copper factories, the construction, and development of industrial components and parts production units, development and integration of the existing industrial units in the area, construction of an alumina refinery, as well as the construction of container manufacturing units.

Implementation and construction of production units in Shahid Rajaee Port will make this port a center for value-added production and a logistics center, which will upgrade the port's level to the third generation and significantly reduce transportation and storage costs.

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

The third phase of the port’s development plan is going to go operational by the end of the current Iranian calendar year (March 20, 2021), according to PMO,

Back in August 2019, PMO’s Director of Engineering and Infrastructure Development Mohammadreza Allahyar had said that the port’s capacity is planned to rise 2.1 million TEUs to reach 8 million TEUs.

Enjoying the most modern container terminals and port equipment, Shahid Rajaee 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, the development of Shahid Rajaee Port has been among the most important development projects in the country.

EF/MA

Photo: Representatives of private sector companies sign investment MOUs on Thursday as Transport and Urban Development Minister Mohammad Eslami (center) and PMO Head Mohammad Rastad (1st L) look upon.