Iran taps local firms to develop port: Domestic companies have inked agreements worth some USD 180 mn to develop port infrastructure at Imam Khomeini Port Special Economic Zone (KPSEZ), Tehran Times reported, citing statements by the head of the Ports and Maritime department of Southwestern Khuzestan province Abutaleb Gerailo.

Details: The investments include agreements worth USD 43 mn with four firms to boost loading and unloading capacity at the port. Another five contracts worth USD 140 mn are set to develop investment opportunities and further boost loading and unloading capacity at KPSEZ. Construction of a 40k cubic meters petroleum products storage tank, a light hydrocarbon production refinery, a gamma irradiation system, and petrochemical saltwater transmission lines are other projects which have been lined up.

The plan: The upgrades look to develop commodity trading chains, create value-added services, streamline oil exports, and expand production at KPSEZ, Geralio said.

The government also wants to build four mechanized terminals for grains, container cargoes, and minerals, Gerailo said, without clarifying whether a portion of investments will be allocated to build the terminals.

About Imam Khomeini Port: Established in 1960 near Ahvaz in Iran’s Khuzestan Province, the port is Iran’s second largest after Shahid Rajaee Port in Southern Hormozgan Province.

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