A long-term Main Contract for the development of Shahid Beheshti Port Terminal, Chabahar was signed between India Port Global Limited (IPGL) and Ports and Maritime Organization (PMO) of Iran which is set to become a gateway for trade with Afghanistan https://eoi.gov.in/kabul/ and broader Central Asian countries https://fieo.org/.
The 10-year concession-based contract was signed on 13 May in the presence of Minister of Ports, Shipping and Waterways Sarbananda Sonowal https://shipmin.gov.in/ .
IPGL will invest https://www.ibef.org/ about US$120 million, with US$250 million financing, in the US$370 million contract, said Iranian Minister of Roads and Urban Development Mehrdad Bazrpash.
During his visit to Chabahar https://indianembassytehran.gov.in/ , Sonowal also held fruitful bilateral meeting with his counterpart Bazrpash, the MoPSW said.
The Ministers recalled the common vision of their leaders to further strengthen bilateral cooperation in connectivity initiatives and in making Chabahar Port a regional connectivity hub https://www.opec.org/opec_web/en/ .
“The development of the Chabahar Port development is an India-Iran flagship project,” said MoPSW. Fiinews.com