Inida Allocates above $14mn to Iran`s Chabahar Port

The Indian government has allocated some Rs 100 crore (i.e. one billion Rupee or above $14 million) for the strategic Chabahar Port project in southeastern Iran that gives India connectivity to Afghanistan bypassing Pakistan.

The aid for the strategically-important Chabahar Port which was zero in the revised estimates of 2019-20 has gone up to Rs 100 crore for the next fiscal. The Print reported.

The Port complex. backed by India. on Iran’s coast along the Gulf of Oman is being developed to provide an alternative trade route between India and Afghanistan.

In May 2016. India and Iran signed a bilateral agreement under which India would refurbish one of the berths at Shahid Beheshti Port. and reconstruct a a 600-metre-long container handling facility at the port.

On January 15. Iranian Foreign Minister Mohammad Javad Zarif met and held talks with Indian Prime Minister Narendra Modi in New Delhi. where the two sides discussed mutual ties. trade and economic cooperation. especially in the field of energy and also collaboration in Chabahar port. as well as significant regional and international issues during their meeting.

On January 1. the Director General of Sistan and Baluchestan Road Maintenance and Transportation Department General Ayyoub Kord said that import of basic goods via Chabahar Port registered a 238 percent growth in the nine months of the current year (March 21-Dec. 22) as compared to the last year’s corresponding period.

He went on to say that Chabahar Port enjoys high capability and potential in unloading basic goods timely. adding. with the increasing trend of loading and unloading operation of these types of goods. suitable ways have been provided for exporting products via this port.

About core

Check Also

Iran’s Daily Gas Production Surpasses 1000mn Cubic Meters

Iran’s Oil Ministry on Saturday announced that the country’s production of crude gas, for the …

Leave a Reply

Your email address will not be published.