India approves plan to develop Iran's Chabahar port

Published October 19, 2014
The port in southeast Iran is central to India's efforts to circumvent Pakistan and open up a route to landlocked Afghanistan. – File Photo/AFP
The port in southeast Iran is central to India's efforts to circumvent Pakistan and open up a route to landlocked Afghanistan. – File Photo/AFP

NEW DELHI: India will float a company to develop Iran's Chabahar Port, a government statement said on Saturday, as New Delhi aims to take advantage of a thaw in Tehran's relations with world powers.

The port of Chabahar in southeast Iran is central to India's efforts to circumvent Pakistan and open up a route to landlocked Afghanistan where it has developed close security ties and economic interests.

Iran and six world powers are engaged in talks to agree on a deal easing sanctions against Tehran before a late-November deadline.

The powers want Iran to scale back its uranium enrichment programme to ensure it cannot produce nuclear bombs. Iran says the programme is for peaceful purposes.

India plans to sign an agreement with Iran for the development of the port and New Delhi intends to lease two berths at Chabahar for 10 years, the statement said.

The planned Indian company will invest $85.21 million in one year to convert the berths into a container terminal and a multi-purpose cargo terminal, the statement said, adding India would consider the participation of Iranian firms if needed.

Opinion

Editorial

Debt deferment
Updated 26 Sep, 2022

Debt deferment

Pakistan’s dollar funding needs for next 5 years have never been so large and world’s appetite to hold its hands never so poor.
Dengue concerns
26 Sep, 2022

Dengue concerns

AS weather conditions change in Pakistan, the threat of dengue looms large over the land. According to a warning...
Relic of colonialism
26 Sep, 2022

Relic of colonialism

THE law on sedition, one of several holdovers of colonial times, is among the most handy instruments for controlling...
UNGA speech
25 Sep, 2022

UNGA speech

CRISES test a nation’s resilience but also provide opportunities to rise and move forward. Prime Minister Shehbaz...
Dar’s return
Updated 25 Sep, 2022

Dar’s return

Dar will now be expected by his party to conjure up fiscal space for the govt to start spending ahead of the next elections.
Iran hijab protests
25 Sep, 2022

Iran hijab protests

FOR over a week now, Iran has been witnessing considerable tumult after a young woman died earlier this month in the...