Investment in Iran's Chabahar Port increased to 500 million dollars
The representative of Iranian Partner of Indian operator (IGPL) in Chabahar Port has said the Indian operator will invest $500 Million over the next 10 years in Chabahar.
Iran Press/Iran news: Alireza Jahan added, Indian Joint operator of Chabahar Port are committed to investing $500 Million over the next 10 years to equip the port of Chabahar with special loading and unloading harbor machinery.
Jahan said when Chabahar-Milk and Qazvin-Rasht railways are connected to Iran's national railway network, Chabahar Port will have a bigger share in the Asian transportation market, Iran Press reported.
The Indian operator company, IGPL, has been tasked with administering and running the terminal of the first phase of ‘Beheshti harbour’ at Chabahar Port in southeastern Iran.
IGPL also officially is in charge of navigation in the port of Chabahar from January with $85 million investment.
Supplying the equipment for development of the port by the Indian company was also on the meeting’s agenda.
Chabahar is the closest and best access point of Iran to the Indian Ocean. In May 2016, Iran and India signed a deal to equip and operate containers and multi-purpose terminals at Shahid Beheshti port in Chabahar with the capital investment of $85.21 million and annual revenue expenditure of $ 22.95 million on a 10-year lease. 101/211/205