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Iranian Strait of Hormuz port plan wins US$121 million from China
CHINA has finalised a deal with Iran to finance the second phase of the plan to develop Shahid Rajaee Port in Iran's southern province of Hormozgan, reports the Tehran Times.
A high official said supply of equipment for the second phased of Shahid Rajaee Port's development requires EUR18 million (US$204 million), of which EUR107 million will be furnished by China.
The official said that the equipments are scheduled to be exported to Iran in the next Iranian calendar year (March 2016-March 2017).
At present, over 80 per cent of the port equipment is domestically manufactured in Iran, he noted.
The first phase of the plan came on stream in February 2008, increasing the ports' container capacity to three million TEU from 1.8 million.
A high official said supply of equipment for the second phased of Shahid Rajaee Port's development requires EUR18 million (US$204 million), of which EUR107 million will be furnished by China.
The official said that the equipments are scheduled to be exported to Iran in the next Iranian calendar year (March 2016-March 2017).
At present, over 80 per cent of the port equipment is domestically manufactured in Iran, he noted.
The first phase of the plan came on stream in February 2008, increasing the ports' container capacity to three million TEU from 1.8 million.
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