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South Korea explores Iran’s opportunities

An economic delegation from South Korea discussed investment opportunities with the economic officials of the southern Bushehr Province on Sunday (Nov. 11).

According to Saeed Zarrinfar, the deputy for economic affairs and resources development of Bushehr Governor General’s Office, the discussions were focused on the considerable potential of Negin Island Port Complex, including the construction of LNG reservoirs, marinas and mineral export terminal, IRNA reported.

Negin Island is a small sedimentary piece of land near Bushehr city. Authorities are planning to turn the island into a maritime hub through port construction. Linking Negin Island to Bushehr Port is expected to significantly increase commercial activities in the region.

Director General of Ports and Maritime Directorate of Bushehr Province Siavash Arjmandzadeh announced the completion of Phase 1 of the construction project of Negin Island’s container terminal in August.

"With a length of 300 meters and a width of 30 meters, the container terminal can offer services to 20,000-ton container ships," he said.

"The project was carried out in cooperation with the private sector with an investment of 900 billion rials ($6.38 million)."

The dredging of Negin Island's container berth started in April. Ports and Maritime Organization of Bushehr Province said back then that once the project is complete, the docking of 50,000-ton vessels will be made possible at the port.

On an official visit to the southern province of Bushehr, President Hassan Rouhani in January 2015 launched the construction of Negin Island seaport, as part of the Bushehr Port Development Project.

Read more on Financial Tribune.


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