Iranian Deputy Minister of Highways recently announced that India will be investing $1 billion in the development of Chabahar Port. Negotiations between Iran and Indian investors took place about three months ago, and the signing of the contract for the supply of parts and equipment for the port is almost finalized. Additionally, a partnership agreement was signed last month between Iran, India, and India Ports Global Ltd (IPGL) for the operation of cargo and container terminals at Shahid Beheshti Port in Chabahar.
The development of Chabahar Port is expected to enhance India’s connectivity to an international north-south transport corridor being constructed with Iran and Russia. It will also strengthen trade links with Central Asia, offering new opportunities for economic growth and development for all parties involved. The strategic location of Chabahar Port makes it a valuable asset for facilitating trade in the region.
The investment from India demonstrates a commitment to enhancing infrastructure and connectivity in the region. The development of Chabahar Port will not only benefit India but also contribute to the economic development and growth of Iran and other neighboring countries. The ongoing cooperation between Iran and India in this project signifies the potential for further collaboration in the future, promoting mutual benefits and prosperity for all parties involved.
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