EMEA News
Iran: $500 Million Earmarked for Bunkering Infrastructure Investment
Mohammad Saeednejad, Managing Director for Iran's Ports and Maritime Organization (PMO) says it has allocated $500 million to invest in the development of bunkering infrastructure in the Persian Gulf, World Maritime News reports.
Saeednejad added that Iran expects to acquire a large portion of the bunkering activities in the Persian Gulf in the "not too distant" future.
He also also said that Iran's sovereignty in waters under its jurisdiction could only be ensured if there is effective implementation and enforcement of international requirements.
As a result, Saeednejad said that a "national will" would be necessary for promoting Iranian maritime services, including the provision of water and fuel to passing ships in the Persian Gulf.
PMO is said to be participating in the preparation and approval of international maritime regulations and conventions, with the interaction of the Iranian maritime administration with other regional states called an "inevitable necessity" by Saeednejad.
In April, it was reported that the easing of economic sanctions in place against Iran are expected to have "far reaching implications" for the shipping industry.
