PMO Expects $700m of Port Investments by 2019

Managing Director of Ports and Maritime Organization of Iran Mohammad Saeed-Nejad said PMO expects to attract $700 million worth of investments within the next two years. These investments will be in the form of new port equipment, which will be installed mainly in Shahid Beheshti Port in southeastern Chabahar and Shahid Rajaei Port in the southern port city of Bandar Abbas, Fars News Agency reported. Shahid Rajaei, formerly the port of Bandar Abbas, is Iran’s largest port by tonnage throughput and the only port in the country to handle more than 10,000 TEUs during the month of September. Total year-on-year throughput at Shahid Rajaei expanded by 5% to more than 6 million tons during the month, including 175,000 TEUs. Work is underway to expand container capacity at Shahid Rajaei and tenders for new management contracts for upgraded facilities and the construction of a new 1.9-million-TEU transshipment terminal are expected to be issued by the end of this year. Chabahar serves as Iran’s only oceanic port and consists of two ports, namely Shahid Kalantari and Shahid Beheshti.