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Iranís private sector to invest $625m in national port development projects

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Iran’s private sector will invest 20 trillion rials (about $625 million) $625m in the country’s port development projects.

Iran’s Ports and Maritime Organization (PMO) will sign contracts with the private sector by the end of the current Iranian calendar year (March 2015), IRNA quoted PMO Managing Director Mohammad Saeidnejad as saying on Sunday.
Over the past 10 years, 250 trillion rials (about $780 million) has been invested in port development projects, he added.
Iran has plans to develop multipurpose ports and build passenger terminals and wharfs across the country.
Substantial investment has been made in Iranian ports, with approximately $3.2 billion reportedly allocated to about 150 projects, Press TV reported.
According to the report, at least half of the capital has been sourced from the private sector, and the funds is being used for a full range of projects, including dredging, berth construction, yard modernization, and the purchase of new handling equipment.
Article Credit: Tehrantimes

Updated 5 Years ago

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Tags:     Iranís private sector To Build Country's Port Development Project With 20 Trillion Rials