TEHRAN- Some four investment contracts, at the value of 1.83 trillion rials (about $42.5 million) on expansion of the southwestern Iranian port of Chabahar were signed on Thursday, IRNA reported.

The contracts were penned in the presence of Port and Maritime Organization (PMO) Head Mohammad Rastad, governor of Sistan-Baluchestan Province, representative of Chabahar County in parliament and some local officials and entrepreneurs.

“These contracts cover construction of oil products storages, LPG storage tanks and a multipurpose warehouse, as well as collecting wastes from ships,” Rastad explained on the signing ceremony of the contracts.

According to him, an MOU on construction of a $150-million mini refinery was also signed on the same day.

The groundbreaking ceremony for construction of the country’s biggest fully mechanized minerals export terminal was also held at Chabahar, the PMO head added.

HJ/MA