Iran, although still in the sanctions era, is preparing for a post-sanctions trade boom, with a plan to build a new port along the shores of Suza and Qeshm island at an estimated cost of more than R9.4 billion.
With the US, for example, having recently indicated it was prepared to ease economic sanctions, Iran is set to expand on a number of port locations.
The new port will be situated near the Strait of Hormuz, where millions of barrels of oil transit every year, according to Islamic Republic News Agency (IRNA).
The Qeshm island on the Gulf lies along the North-South Transport Corridor which provides a rail, road and sea route for moving freight across various countries and continents, including Iran, Pakistan, Russia, the Central Asia and Europe.
Iran plans multi-billion port
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