The head of Iran's Ports and Maritime Organization (PMO) has said over the past few years the organization has managed to attract nearly $1.7 billion of foreign and domestic investment in the country's ports and maritime sector, according to Tehran Times.
Speaking in a press conference on Wednesday. Ali-Akbar Safaei said some 620 trillion rials (about $1.24 billion) of domestic investment and $470 million of foreign investment have been attracted in the mentioned sectors, IRNA reported.
PMO has signed contracts with five countries including India which has so far invested $120 million in the port sector and $250 million in the rail, roads and infrastructure sector.
Safaei continued: "Maritime trade increased from 215 million tons in [the Iranian calendar yearl 1401 (2022-2023) to 237 million tons last year (ended on March 19. 2024)." "In the first quarter of the current year, 60 million tons of maritime trade was recorded, which shows a 10 percent growth compared to the same period last year, and even a 70 percent growth was recorded in some ports of the Caspian Sea," he added.
Back in November 2023, Safaei said his organization was going to attract 1.0 quadrillion rials (about $2 billion) of investment in the country's ports to develop maritime economy. Speaking in a televised interview, the official said 470 trillion rials (about $924 million) of the mentioned figure was going to be invested by the private sector and the rest would be supplied by PMO.