Wednesday - 7/17/2019
Private sector invests over $100m in Chabahar Port
Private sector invests over $100m in Chabahar Port
Publish Date: 1/19/2019

Iran has been able to attract more than 100 million dollars worth of private sector investment in its thriving Chabahar Port on the coast of the Gulf of Oman.

“During the last nine months [of the current Persian year (21 March-21 December)] we’ve witnessed a big leap in obtaining private investment in developing the port,” the Iranian media have cited Behruz Aghai, General Manager of Ports and Maritime Organisation of south-western Province of Sistan and Baluchistan, as saying.

“Since the beginning of the year we’ve obtained more than 100 million dollars from the private sector to construct the hinterland, including container terminals, storage space, refineries,” added the official who went on to say that more than 20 Iranian and foreign delegations as well as up to 70 companies have shown their interest in investing in Chabahar Port.

Iran kickstarted work to develop the Chabahar Port in 2016 when India injected majority of the capital to use the port as a means to send its exports to Afghanistan, bypassing Pakistan. The Port’s first phase was inaugurated more than a year ago and earlier this months, India officially took over the operations at this part of the Shahid Beheshti port.

The first phase is one of the largest infrastructure projects during the past century, stressed Aghaí. He said Iran has excavated 230 hectares of the Iranian waters of the Sea of Oman to build the port’s quay. The General Manager of Ports and Maritime Organisation of south-western Province of Sistan and Baluchistan explained that 63 hectares have been concreted and are operational, that is, they are used as general cargo and container terminals.   

The official added that 300 hectares of stilling basin, 1430 meters of breakwater with 16.5-meter depth have been constructed where the largest ocean-going vessels can dock.

Wednesday marked the third year since the implementation of the 2015 international treaty on Iran’s nuclear programme from which the US withdrew last May. according to Aghaí, the deal, also known as the Joint Comprehensive Plan of Action (JCPOA), opened the way for the import of European machinery into the port. “After the first LC was opened in 2016, the first cranes were received from Europe,” highlighted the official.

Faranak Omidi Private sector,chabahar,invest,economic 111
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