Development projects worth over $425m inaugurated in southern Iran

September 26, 2020 - 15:35

TEHRAN – Iran’s First Vice President Es’haq Jahangiri inaugurated several development projects valued at about $425.9 million on Saturday during a one-day visit to the southern Hormozgan Province, IRNA reported.

The second development phase of South Kaveh Steel Company, 12 port and maritime projects, some telecommunication projects, as well as a 130-bed hospital were among the inaugurated projects.

As reported, the second development phase of South Kaveh Steel Company was put into operation with an investment of €311 million (about $361.7 million) by the Mostazafan Foundation in the Persian Gulf Special Economic Zone in Bandar-Abbas (the center of province).

With the mentioned phase going operational, 1.2 million tons will be added to the country’s steel ingot production capacity, and the company’s total production capacity will reach 2.4 million tons per year.

Jahangiri also inaugurated 12 port and maritime development projects valued at 1.4 trillion rials (about $33.3 million) in the mentioned province.

These projects include a transit and export terminal, construction of storage facilities for oil products, construction of 12 floating tourist wharf posts in six designated areas of the province, modernization of 16 to 20 wharves of Shahid Rajaei port, and renovation of the port’s railway lines, as well as a pollution and trash collecting barge.

A 130-bed specialized obstetrics and gynecology hospital was also inaugurated in Bandar-Abbas in which 1.3 trillion rials (about $30.9 million) was invested.

Jahangiri who arrived at Bandar-Abbas International Airport on Saturday morning to attend a meeting of the Hormozgan Province’s Resistance Economy Headquarters and visit the province's customs, was welcomed by the local officials including the province’s governor and parliament members.

The first vice president was accompanied by the acting minister of industry, mining and trade, the ministers of agriculture, transport and urban development, the governor of the Central Bank of Iran (CBI), the head of the Islamic Republic of Iran Customs Administration, and the head of the Mostazafan Foundation in his one-day visit to Hormozgan.


Photo: Jahangiri inaugurates the second development phase of South Kaveh Steel Company in the southern Hormozgan Province on Saturday.

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