India Iran sign long term contract for operations at Chabahar Port to boost regional connectivity

Deccan Herald
Deccan Herald
1.1 هزار بار بازدید - 3 ماه پیش - Marking a significant milestone for
Marking a significant milestone for India-Iran relationship, both countries signed a long-term contract for operations at Chabahar Port on May 13. The Indian delegation to Iran was led by Union Minister Sarbananda Sonowal, while Mehrdad Bazrpash was present from the Iranian side. A new 10-year Contract was signed between India Ports Global Ltd (IPGL) and the Ports & Maritime Organisation of Iran (PMO). Under the contract, IPGL will invest approximately 120 million USD in equipping the port. India has also offered an IN credit window equivalent to USD 250 million, for mutually identified projects aimed at improving Chabahar-related infrastructure. Sarbananda Sonowal called this a ‘historic milestone’ and stressed that it “symbolises enduring trust, deepening partnership between India and Iran”. The Chabahar Port is an India-Iran flagship project that serves as a transit port for trade with Afghanistan, Central Asian countries. Chabahar, a deep water port located in the Sistan-Baluchistan province of Iran, is a key component of India’s connectivity to Central Asia. It is the closest Iranian port to India and is located in the open sea, providing easy and secure access for large cargo ships. Chabahar port provides a viable and shorter route for trade between India, Iran, Afghanistan, and Central Asia. The discussions of the contract also focused on the International North-South Transport Corridor (INSTC). Meanwhile, India aims to make Chabahar Port a transit hub under the INSTC to reach out to Commonwealth of Independent States (CIS) countries.

#india #chabaharport #iran #afghanistan #centralasia #russia #operations  #worldnews #chabaharport #chabahar
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