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South Korean Mission Explores Iran's Bushehr Investment Opportunities

An economic delegation from South Korea discussed investment opportunities with the economic officials of the southern Bushehr Province on Sunday.
South Korean Mission Explores Iran's Bushehr Investment Opportunities South Korean Mission Explores Iran's Bushehr Investment Opportunities

An economic delegation from South Korea discussed investment opportunities with the economic officials of the southern Bushehr Province on Sunday. 
According to Saeed Zarrinfar, the deputy for economic affairs and resources development of Bushehr Governor General’s Office, the discussions were focused on the considerable potential of Negin Island Port Complex, including the construction of LNG reservoirs, marinas and mineral export terminal, IRNA reported. 
Negin Island is a small sedimentary piece of land near Bushehr city. Authorities are planning to turn the island into a maritime hub through port construction. Linking Negin Island to Bushehr Port is expected to significantly increase commercial activities in the region.

 

 

Director General of Ports and Maritime Directorate of Bushehr Province Siavash Arjmandzadeh announced the completion of Phase 1 of the construction project of Negin Island’s container terminal in August.

37.8 million tons of commodities worth $15.08 billion were exported from Bushehr Province during the last fiscal year (March 2017-18)

"With a length of 300 meters and a width of 30 meters, the container terminal can offer services to 20,000-ton container ships," he said. 
"The project was carried out in cooperation with the private sector with an investment of 900 billion rials ($6.38 million)."
The dredging of Negin Island's container berth started in April. Ports and Maritime Organization of Bushehr Province said back then that once the project is complete, the docking of 50,000-ton vessels will be made possible at the port.
On an official visit to the southern province of Bushehr, President Hassan Rouhani in January 2015 launched the construction of Negin Island seaport, as part of the Bushehr Port Development Project.
"The container loading and unloading capacity for Bushehr Port will increase to 600,000 TEUs upon Negin Island's port project, which is twice its current capacity, making it the country’s second biggest container port after Shahid Rajaee Port in Hormozgan Province," Mohammad Rastad, the head of Iran’s Ports and Maritime Organization, said.
According to the head of Bushehr Industries, Mining and Trade Organization, 37.8 million tons of commodities worth $15.08 billion were exported from Bushehr Province during the last fiscal year (March 2017-18).

 


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Speaking to IRNA, Hossein Hosseini Mohammadi said major goods exported from the province, in terms of value, included petrochemical products, fertilizers, cement, clinker, fish, shrimp and sulfur.
China, South Korea, the UAE, India, Japan, Indonesia, Turkey, Taiwan, Kenya and Qatar were the main customers.
A total of 1.16 million tons of goods worth around $2.42 billion were imported into the province during the period under review. These goods mainly included banana, auto parts, rubber, rice, tea and toys.

 

Qatari Interest

A delegation of high-ranking officials from Qatar Ports Management Company paid a visit to Iran’s southern ports in September and met their Iranian counterparts, taking a tour of Bushehr, Khorramshahr, Bandar Imam Khomeini and Shahid Rajaee ports.
Mohammad Al-Khanji, the director of Qatar Ports Management Company, told a press conference in Bushehr during the visit that Qatar plans to invest in the development of Iran's southern ports to help expand economic cooperation and increase bilateral trade.
“Qatar has long-term plans to increase trade ties with Iran and invest in its southern ports, which have an economic advantage for both countries … We firmly seek expansion of bilateral relations and nothing can change our strategic decision for expanding ties with Iran,” he was quoted as saying.
Currently, two southern ports of Bushehr and Bandar Lengeh account for the largest proportion of goods sent from Iran to Qatar. However, Qatari officials seek stronger ties with all of the Iranian southern ports.
Among all the southern ports of Iran, Negin Island Port in Bushehr offers the best opportunity for Qatari investors.
"About $56 million worth of non-oil goods were exported from the southern Bushehr Province to Qatar in the first half of the current Iranian year (March 21-Sept. 22)," Bushehr Governor-General Abdolkarim Geravand was quoted as saying by IRNA. 
Minerals, construction materials, seafood and agricultural produce were the main exports from Bushehr to the neighboring country, he added. 
Ports and Maritime Bureau of Bushehr Province has formed a special committee to work on challenges hindering trade expansion between Qatar and the Iranian province.
"As exporters to Qatar mainly encounter problems associated with marine transportation, the bureau has set up this committee, which will hold regular meetings to address these challenges," Ministry of Roads and Urban Development news outlet quoted Nourollah Asadi, the caretaker of Ports and Maritime Bureau of Bushehr Province, as saying in May.

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