TEHRAN – The Ports and Maritime Organization (PMO) has announced that private sector investments in Iran's ports have reached 2.2 quadrillion rials (about $4.4 billion) through 362 active contracts as of December 2024.

Hassan Yadollahi, director of Economic Affairs at PMO, highlighted that this investment has led to the creation or ongoing development of storage capacities for over 233 million tons of various goods by domestic and foreign private entities.

According to Yadollahi, the average annual growth rate of private investment in the country's ports has been approximately 24 percent.

This growth aligns with Iran's broader economic policies, including the Seventh National Development Plan and directives for sea-oriented development. Notably, there has been a 150 percent increase in the value of private sector investment projects over the past three years compared to the previous period ending in 2021.

In addition to these developments, PMO has set a target to attract 300 trillion rials (about $600 million) in private sector investment by the end of the current Iranian calendar year (March 2025). This initiative aims to further enhance the infrastructure and operational capacity of Iran's ports.

These efforts underscore Iran's commitment to bolstering its maritime infrastructure and fostering private sector participation in port development, which is crucial for the nation's economic growth and trade expansion.

EF/MA