According to a report Saturday in Fars News, Iran has invested heavily in Saraf Port, just five miles (8 km) from the main shipping routes in the Persian Gulf, encouraging more ships at the port instead of sailing to the far ports of Huejairah.
Four major refineries are being built in Qeshm, each with the ability to process 140,000 barrels of oil per day to increase the island’s bunker fuel, gasoline and asphalt supply.
The island also said it has introduced a long-term project to store 100 million barrels of oil.
Salakh Port, located south of Qeshm, currently supplies ships with 50,000 tonnes per month.
However, the report said the authorities were trying to increase the capacity to 750,000 a month.
Estimates suggest that Iran has a small portion of its banker revenue in the Persian Gulf. There, the industry is thought to be worth more than $30 billion. This is because more than 50,000 ships move to the area each year for trade or energy transport purposes.
Qeshm is one of the largest islands in the world with a surface area of approximately 1,500 square kilometers. It is located in the Hormuz Strait, a strategic transport route responsible for nearly 20% of the world’s oil trade.
Iran has recently introduced development plans for the South Island as part of an effort to increase economic activity in relatively poor regions, home to some of the world’s largest energy reserves.
MNA/Press TV