News ID: 232713
Published: 0309 GMT October 13, 2018

Iran, India discuss expanding cooperation to develop Chabahar

Iran, India discuss expanding cooperation to develop Chabahar

Senior Iranian and Indian trade officials in a meeting in New Delhi reviewed ways to bolster relations, particularly in developing Chabahar port in southeastern Iran.

During the meeting, Iran's Deputy Minister for Roads and Urban Development Mohammad Rastad and senior officials from India's Ministry of Shipping and Ports Association explored ways to bolster cooperation, particularly in the development of Chabahar port, reported Fars News Agency.

The two sides also discussed the time-frame and conditions for implementing the main contract pertaining to Chabahar port.

The Indian company, IPGL, was tasked with administering and running the terminal of the first phase of 'Beheshti harbor' at Chabahar port as the sole operator.

Supplying the equipment for developing 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 Chabahar with the capital investment of $85.21 million and annual expenditure of $22.95 million on a 10-year lease.

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