News ID: 234052
Published: 0404 GMT November 10, 2018

Investment in Iran's Chabahar port exceeds €30m

Investment in Iran's Chabahar port exceeds €30m

Chabahar port logistics' section has drawn more than €30 million in investment since March 21, announced the director general of Ports and Maritime Organization in the southeastern province of Sistan-Baluchestan.

Behrouz Aqaei further pointed out on Saturday that Chabahar port plays an important role in regional and international transit, reported Fars News Agency.

Chabahar port, he added, offers an "important and cheap route for landlocked countries, such as Afghanistan, to connect to high seas".

The fact that Iran has invested over one billion dollars in the first phase of Shaheed Beheshti Port in Chabahar to develop the infrastructures shows how important the port is, Aqaei said.

He said that the transit of 110,000 tons of wheat and grains to Afghanistan was an example of the importance of sea transportation, adding that in the five months, transit of goods via Chabahar has grown sixfold against the figure for the past five years.

Noting that Chabahar is known as the Gateway of Nations, Aqaei added that its exemption from US sanctions would contribute to the port's progress in international trade.

After the US announced the second round of unilateral sanctions against Iran on November 5, Trump administration was forced to issue exemptions to alleviate the negative impacts of anti-Iran economic war for the world.

The first list of exemptions included eight major buyers of Iran's oil: Japan, China, South Korea, Taiwan, India, Turkey, Greece and Italy. Iraq and Afghanistan were later excused in separate permission and Chabahar port was also exempted because of India and China's involvement in developing the international hub.

   
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