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Iran: Deals worth $2.75b signed for developing sea-based economy

Posted on May 20, 2024

Iranian firms have signed 21 contracts valued at $2.75 billion to develop sea-based technologies during the 1st edition of Iran Sea-Based Economy International Matchmaking Event (ISBE 2024) in Qeshm Island, southern Iran

The contracts included cooperation agreements for the purchase of five vessels to be used in the International North-South Transit Corridor (INSTC), construction of five other vessels, the launch of a smart dry port in Zahedan, offering smart shipping services, as well as the purchase and construction of 40,000 TEUs, IRNA reported.

Two other contracts were about the purchase and construction of 12 container ships and five other methanol carrying ships.

The ISBE 2024 opened in a ceremony participated by Minister of Industry, Mining, and Trade Abbas Aliabadi in Qeshm Island on Tuesday and wrapped up on Friday.

The event focused on the development of domestic and foreign cooperation among players of sea-based economy.

Within the framework of this event, which was jointly organized by the Supreme Council of Marine Industries of the country and the Qeshm Free Zone, various specialized meetings and panels were held and Iranian companies were given the opportunity to gain more familiarity with their counterparts for cooperating in the fields of combined transportation and maritime logistics, shipping, shipbuilding, marine structures, exploration, extraction and transfer of oil and condensates, bunkering and fuel supply services for vessels, port services, customs, fisheries and fishing, tourism and maritime recreation and expand multilateral cooperation through the interaction among activists in the field of sea-based economy.

Back in September 2023, Iran’s Ports and Maritime Organization (PMO) Head Ali-Akbar Safaei said the government has a strategic plan for developing the maritime economy in the country and to this end, 27 strategic coastal points have been selected in which infrastructural projects are underway.

The official made the remarks in a ceremony held on the occasion of World Maritime Day.


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