Investment Deals Worth $980m to Help Develop Shahid Rajaee Port

Hormozgan Ports and Maritime Organization has signed investment contracts with five local firms and one foreign company on Dec. 24.
Signed in the presence of Minister of Roads and Urban Development Mohammad Eslami, the agreements worth 250 trillion rials ($980 million) will help develop 2,400 hectares of hinterlands newly added to Shahid Rajaee Port and improve southern harbors to third-generation ports. 
The United Nations Conference on Trade and Development has developed a system that classifies ports into first, second and third generations. First-generation ports only perform traditional port activities, i.e., they are simply interfaces between the land and sea. Second-generation ports are characterized as support service centers for transport, industry and trade that provide certain value-added cargo services, such as labeling volumes, consolidation, deconsolidation and completing production processes. Third-generation ports are dynamic links in international trade networks and active agents that design and implement strategies for the complete development of a port’s area of influence.