Kazakhstan signs $25m logistics deal at Shahid Rajaee Port
First foreign direct investment in Iranian ports for INSTC development
Kazakhstan signed a $25 million investment agreement to build a logistics hub at Iran's Shahid Rajaee Port, in a move Iranian officials hailed as a major step toward attracting foreign investment and developing the International North-South Transport Corridor (INSTC).
The 27-year contract, which includes two years of construction and 25 years of operation, marks the first 100% foreign direct investment in an Iranian port in recent years, according to Hormozgan province ports and maritime chief Hossein Abbasnejad.
The 15-hectare logistics center is expected to handle annual transshipment of 1.5 million metric tons of goods once operational, Abbasnejad told IRNA ahead of Sunday's signing ceremony.
Mohammad Shakibi-Nasab, head of Iran's Ports and Maritime Organization, said the project was backed by the Ministry of Roads and Urban Development and aligned with the agency's strategy to strengthen Iran's transit position.
"This investment, in addition to developing infrastructure and providing port equipment, will create jobs, increase the operational capacity of Shahid Rajaee Port and boost ports along the North-South corridor," Shakibi-Nasab said.
He added that the agreement guarantees annual transit of 1.5 million tons of goods through Iranian territory, which would improve Iran's share of the regional transit market and raise transit revenues.
Kazakhstan's strategic role in regional transport
Shakibi-Nasab described Kazakhstan as a key logistics and transit hub in the region that could play an effective role in activating the North-South corridor. He said Kazakh investment in both infrastructure and equipment at the southern port would boost the international corridor and expand bilateral economic ties.
The official also emphasized the project's social impact, saying it would create new employment opportunities and increase productivity at ports along the corridor.
Bilateral trade set to triple
Aman Malgazhdarov, director of the QazExportPromotion Corporate Fund, expressed satisfaction with the signing and described the project as a strategic step in economic and transport development between the two countries.
"We have been working continuously on this project for nearly a year, and today we are pleased to see this agreement signed," Gazhavarov said.
He stressed that the project was not merely a berth, warehouse or terminal, but rather the "core of a future Kazakh port within Shahid Rajaee Port" that could play a significant role in developing regional transit corridors.
Gazhavarov noted that current bilateral trade between Iran and Kazakhstan stands at approximately $400 million. He expressed hope that the agreement and the operation of the logistics center would increase that figure by at least two to three times.
First wholly foreign-owned port investment
Abbasnejad, the local ports director, said the facility would function as part of a chain of logistics centers linking Kazakhstan, Shahid Rajaee Port and origin ports, with the goal of expanding cargo transit.
The contract includes provisions for review every five years to account for potential increases in transit volumes and changing conditions, he said.
The investment covers building construction, warehouses, site preparation and specialized equipment for port operations.
The deal follows the finalization of 14 memoranda of understanding during Iranian Roads and Urban Development Minister Farzaneh Sadeq Malvajerd's recent visit to Kazakhstan. Those agreements were originally signed during President Masoud Pezeshkian's visit to Astana last year.
Sadeq Malvajerd and Kazakh officials sealed the pacts to expand transit cooperation and activate logistics hubs at key ports in both countries, aiming to capitalize on Iran's role as a gateway for cargo moving from China to Europe while providing Kazakhstan with access to open waters.
According to Sadeq Malvajerd, another major focus of her mid-June visit was identifying locations for logistics hubs to store and redistribute goods along transit routes in both Kazakhstan and Iran.