Iran: PMO Provides Financial Support for 304 Port Projects

Deputy Managing Director for the Development of Management & Resources of the PMO said that, with a view to renovate national fleet and development of port and maritime services, PMO has provided financial support for about 304 port projects up to the end of previous Iranian calendar year (March 2012) in various fields such as commercial ships, services vessels, passenger ships as well as port equipment.

He also said that this financial support also was granted to the investors operating in port areas. This financial support amounted to $4 million.

Mr. Emami noted that, to date, a number of 170 projects have become operational including building and purchasing of various types of the commercial and passenger and service ships and 130 port equipment. He went on to say that PMO has paid a part of the accrued interests of the loans given to the private sector with aim of encouraging them for investment and making economic activities in port more cost-effective.

Ports and Maritime Organization (PMO) has already privatized great majority of the port activities and is determined to support private sector to attract the investment of this section and bring about economic prosperity to local residents as well as national economy.

[mappress]

Press Release, August 22, 2013