Iran to Pen Contracts for Building Oil, LPG Storage Tanks in Chabahar

Deputy Ports and Maritime Organization (PMO) for Ports and Economic Affairs of Sistan and Baluchistan said that seven investment contracts were concluded by the private sector last year (March 2019-20) and five more are underway to be signed in the first half of the current Iranian year (March 2020-21).

The Deputy of Ports and Maritime Organization of Sistan and Baluchistan Hossein Shahdadi referred to the measures adopted in the field of attracting cargos and goods via Chabahar port and the approval of the Iranian cargo owners as well as allocating a special discount for Chabahar port and said, “we have witnessed a 20% increase in attracting investment from the private sector in 2019 under seven contracts.”

“The value of these contracts is IRR 4,080 billion (US$25.5 million) for the construction of storage tanks for oil, gas (LPG), and bitumen as well as the construction of multi-purpose warehouses for storing goods and a site for washing and disinfecting trucks.” Shahdadi noted.

He went on to say that five other investment projects are under final consideration and said, “These contracts are expected to be concluded in the first half of the current year, and their value is estimated at IRR 2,500 billion (US$15.625 million). The objective for inking the contracts is to construct storage tanks for oil products and multi-purpose warehouses for storing goods.” - Mehr, Tasnim