PMO targets over $40m of investment in ports

The deputy head of Iran’s Ports and Maritime Organization (PMO) has said the organization is planning to realize a goal of attracting 20 trillion rials (about $40.1 million) of investment in the country’s ports by the end of the current Iranian calendar year (late March 2024).
As reported by the PMO portal, in a meeting of the PMO directors, which was held in the presence of the board members and directors of the ports of the country, Jalil Eslami said: “The total capacity created in the country’s ports is equal to 4.5 million tons per year which has created direct employment for 236 people and indirect employment for 700 people.”
According to the official, currently 217 trillion rials (about $436 million) of projects are under consideration in the country’s ports.
While Iran is combating the U.S. unilateral sanctions on its economy, the country’s ports as the major gates of exports and imports play a significant role in this battle. This role makes all-out support to ports and more development of them serious and vital.
Such necessity has led the government to define projects for more development of the ports and also take some measures to encourage investment making in ports, in addition to facilitating the loading and unloading of goods, especially basic commodities, there.
It is worth mentioning that Iran’s Ports and Maritime Organization has defined a high number of projects to develop and improve the country’s ports, as the country aims to double the capacity of its ports in the course of five years.
According to the PMO, the capacity of the country’s ports has increased from 180 million tons in the Iranian calendar year 1392 (ended in March 2014) to 250 million tons in 1399 (ended in March 2021).