Iran is set to build a new port along the shores of Suza and Qeshm island at an estimated cost of more than US$780 million and will be situated near the Strait of Hormuz, where millions of barrels of oil transit every year, according to IRNA.
PTI previously reported that Iran will be the location for the construction of Chabahar Port under the Indian government’s guidance, despite warnings from the US that it should not be doing business in the country.
Farzin Haqdel, Deputy Head of the Qeshm Free Zone Organization, said: “The new port in Suza can turn into one of the biggest and most discussed international ports in the world due to many advantages it has, including a draught of 50 metres” and “will definitely become a shipping hub for international trade and transit.”
The Qeshm island on the Persian Gulf lies along the North-South Transport Corridor which provides a rail, road and sea route for moving freight across various countries and continents, including Iran, Pakistan, Russia, the Central Asia and Europe.
Iran has also recently been involved with an industrial project in collaboration with China, which would see the Iran’s port city of Jask developed into an industrial town.
This industrial town will enable oil exports won’t have to rely on just one port and will be able to traverse through the Sea of Omen.
Iran’s Ministry of Road and Development has also made a call for more foreign investment in both northern and southern Iranian ports, as part of the government’s plan to expand southern port capacity by around 6 million tonnes.