India strengthens cargo handling capacity of Chabahar Port, Iran
The bilateral contract between the Islamic Republic of Iran and Republic of India was signed on 23rd May 2016 with a total value of USD 85 million for Equipping, Mechanizing and starting Operations at Shahid Beheshti Port of Chabahar development Phase- I. To achieve this ambitious aim, an SPV namely India Ports Global Limited (IPGL) Mumbai was incorporated under the ambit of the Ministry of Ports, Shipping and Waterways.
Minister of Ports, Shipping and Waterways (I/C), Mansukh Mandaviya stated that Chabahar Port is a strategic port with great national importance. The delivery of consignment of heavy equipment, including cranes shows India’s commitment to the strategic connectivity of Chabahar port project that will provide access to markets in Central Asia. Development of Chabahar port is the anchor for the expansion of economic and mutual relations between India and Iran and it will give a further boost to the maritime trade between both the countries.
The location of Chabahar Port has strategically advantage and high potential to provide connectivity among India, Iran, Afghanistan, Uzbekistan and other CIS countries specially Eastern CIS countries to increase trade between these countries.
