TEHRAN – At a ceremony on Sunday, Iran Airports Company (IAC) signed 26 memorandums of understanding (MOUs) with domestic investment companies to cooperate on airport development projects across the country.

AIC CEO Reza Nakhjavani and the company’s deputy CEO Ali Abdi attended the signing ceremony of the said letters of intent, IRNA reported.

Speaking at the ceremony, Nakhjavani said that airport profitability is a top priority for investors, as the private sector can adjust its economic plans to the level of capital and profit when investing.

“The documents concluded today in the form of letters of intent will be followed up in the next steps and signed in the form of contracts,” said the AIC boss.

The official also mentioned the AIC’s Investment Atlas, which was launched during the ceremony, saying: “This document can provide a platform and conditions for investment and, on the other hand, is in line with the government’s plans to involve people in the country’s economy.”

On the sidelines of the signing ceremony, Abdi also told the press that the company had prepared 200 investment projects worth a total of 1.8 trillion rials (about 3.6 billion US dollars) under the AIC Investment Atlas to be offered to private investors.

“This atlas was prepared with the help of two-year efforts of colleagues from Iran Airports and Air Navigation Company. It defines 200 investment opportunities worth 180,000 billion tomans and presents airports as a safe and profitable platform,” he said.

According to Abdi, the AIC Public Relations Office has designed and prepared an airport investment opportunity website, which will provide interested parties with full details of the investment projects.

Already in July, Nakhjavani announced at a conference that AIC was offering new investment projects to interested investors.

Nakhjavani said a comprehensive roadmap had been drawn up for the development of the country’s airports.

Regarding the plans to develop Mehrabad Airport into a hub for domestic flights in the country, Nakhjavani said: “The Seventh National Development Plan had proposed to move as many flights as possible from this airport to Imam Khomeini Airport. However, this proposal was rejected by a clear majority of 95 percent of parliament members.”

“Currently, the initial studies for the development of this airport (Mehrabad) with an area of ​​120,000 square meters have been completed and the estimated budget for the completion of the project is 300 trillion rials (about $600 million),” he said.

According to Nakhjavani, the funds mentioned will be provided from the IAC’s internal resources and the company will not require any government subsidies.

“Currently, the country’s airports are in a favourable condition and even if the number of domestic flights increases, we will be able to provide optimum services,” the official added.

EF/MA