TEHRAN – Iran’s private sector has signed 13 Memorandums of understanding (MOUs) to invest 100 trillion rials (about $2.39 billion) in the country’s northern and southern ports.

Based on the MOUs signed with Ports and Maritime Organization (PMO) on Monday, the private sector will make investments in Shahid Rajaie, Emam Khomeini, Khoramshahr, Boushehr as well as Chabahar, Amirabad, Anzali and Noshahr ports.

Iranian Transport and Urban Development Minister Abbas Akhoundi, along with Mohammad Rastad, the managing director of Iran’s Ports and Maritime Organization, and Morteza Bank, the secretary of Free Zones High Council, attended the signing ceremony.

The agreements oblige the related organizations and institutions to take necessary measures for facilitating the private sector’s investment in the country’s ports.

EF/MA