Financial Tribune - The Ports and Maritime Organization of Iran is going to sign a contract with the private sector on Tuesday for the construction of Iran's biggest mechanized mineral terminal at Shahid Rajaee Port, the deputy head of PMO announced on Monday.

Ali Hassanzadeh added that the contract is worth 50 trillion rials (over $430 million).

The terminal’s capacity will reach 50 million tons per year upon the completion of the project, which will be carried out in three phases, covering 180 hectares of land, each spread over 60 hectares.

It will be the biggest mineral terminal in the Persian Gulf and Sea of Oman, and mark a major development in Iran's mining industry, considering its considerable mineral capacity, Mehr News Agency reported.

He explained that mines across the country will be directly connected to the terminal through a railroad, and the terminal will be used for both exports and imports.