As per details revealed by Iran’s Deputy Minister for Roads, India has announced plans to invest $1 billion for the development of Chabahar Port. He further informed that about three months ago negotiations were conducted with the Indian investors and signing the contract on the provision of the relevant parts and equipment at Chabahar Port is at the final stage.
Last month, Iran and India had inked a partnership deal with India Ports Global Ltd (IPGL) for equipping and operating the freight and container terminals of Shahid Beheshti Port in Chabahar. The project will improve India’s connection with an international north-south transport corridor being developed with Iran and Russia and also improve trade links with Central Asia.
