The private sector invested an estimated 12 trillion rials (close to $428 million based on official exchange rate) for the development of the southern port of Shahid Rajaei Port during the past Iranian year (ended March 20), according to the director general of ports and navigation of Hormozgan Province, Ibrahim Idani. “Shahid Rajaee has been among the most active ports in the country in terms of attracting investment by the private sector,” he was quoted by IRNA as saying. The port lies on the northern shores of the Strait of Hormuz, about nine nautical miles (14.5 km) west-southwest of the provincial capital city of Bandar Abbas. Around 100 million tons of goods pass through Shahid Rajaei every year.
