Saturday, 19 August 2023

Iran requires US$9 billion for developing Makran Coast Line

The Secretary of Makran Coast Development Council said developing the cost line requires three years of work and US$9 billion of investment, Fars News Agency reported.

Speaking to Fars, Hossein Dehghan said the need for developing the cost line came under the spotlight nearly 15 years ago when stressed by the Leader of the Islamic Revolution Seyyed Ali Khamenei.

“Over the past 15 years, important measures have been taken in this regard, however, it has not been enough,” Dehghan noted.

According to the official, distance from the center and lack of infrastructure have been the two main obstacles in the way of attracting investment in the mentioned region.

Makran is a historical region in Iran that runs from mountains west of Jask all the way to parts of Pakistan's Baluchistan province in the southwest along the Sea of Oman.

Iran has recently constructed significant nautical and commercial infrastructure in a number of Makran districts, particularly at Chabahar port, which serves as a vital trade route between the Indian Ocean and landlocked nations in Central Asia.

Earlier in June, the head of Iran’s Ports and Maritime Organization (PMO) announced a plan for attracting over US$390 million of domestic investment in the Makran Coast.

Ali-Akbar Safaei said that so far, the private sector has invested more than US$215 million in the region and the country’s small ports.

He also noted that good measures have been taken in the foreign investment sector, which will hopefully bear results soon.

Back in November 2022, President Ebrahim Raisi called for a quick development of the south and southeastern shores of Iran, namely the Makran coastline.

Raisi stated that plans for the development of the Makran coasts by the government and the private sector might assist the comparatively underdeveloped region.

No comments:

Post a Comment