$2.5b to Be Invested in Ports

About 90,000 billion rials ($2.5 billion at market exchange rates) will be invested in port projects and infrastructure this year (March 2016-17), says Deputy Minister of Roads and Urban Development and Managing Director of Ports and Maritime Organization Mohammad Saeed-Nejad. “Up until now, investment contracts worth 27,000 billion rials ($752.71 million) have been signed with companies of the private sector,” IRNA quoted Saeed-Nejad as saying. Mojtaba Khoshniyyat, the organization’s director general for free zones, marketing and investment, said 24 projects in the country’s ports are set to attract foreign investment.