India Signs 10-Year Contract To Operate Iran's Key Chabahar Port
NDTV
This is the first time India will take over the management of an overseas port.
India and Iran on Monday signed a 10-year contract for the operation of a terminal at the strategically important Chabahar port in Iran, a move that will boost regional connectivity as well as trade ties. At Tehran, Iran today, delighted to be part of the signing of the Long Term Bilateral Contract on Chabahar Port Operations in presence of HE Mehrdad Bazrpash, Minister of Roads & Urban Development, Iran.India will develop and operate Iran's strategic Chabahar Port for 10… pic.twitter.com/iXwekIk8ey
This is the first time India will take over the management of an overseas port that will also have a multiplier effect on trade among India, Iran and Afghanistan as efforts continue to directly tap the potential in Central Asia, bypassing neighbouring Pakistan.
According to an official statement, the contract was signed by India Ports Global Ltd (IPGL) and Iran's Port & Maritime Organisation (PMO), in the presence of Ports, Shipping and Waterways Minister Sarbananda Sonowal.
