Update: India, Iran Sign MoU on Chabahar Port

India and Iran signed on Wednesday an agreement that would enable India to investment in Chabahar Port development, situated on the Gulf of Oman, near Iran’s border with Pakistan.

The deal paves way for the two countries to determine the terms of a commercial contract for the investment.

The Government of India assigned USD 100 million for upgrading the port of Chabahar in Iran, the final objective being trade boost with Afghanistan and other Central Asian countries.

However, the deal, which dates back to 2013 has had little progress so far due to economic sanctions imposed on Iran.

The investment underlies development of a multiple-use cargo jetty and two container terminals that would decrease transport costs of Indian goods by around 30 % when compared to the country’s other waterways.

India’s decision is said to be triggered by the upcoming agreement on Iran’s nuclear program, which is expected to be reached between Iran and world powers in June. The talks between Iran and the EU are scheduled to resume on May 12, whereas the P5+1 group of world powers — the United States, Russia, China, France, Britain, and Germany -are expected to join the talks on May 15.

The Port of Chabahar is the only Iranian port with direct access to the ocean. It is located in southeastern Iran and has access to both the Oman sea and the Persian (Arabian) Gulf.  India helped build the port in the 90ies, as it provides access to Afghanistan and Central Asia, bypassing Pakistan.

World Maritime News Staff

Share this article

Follow World Maritime News

In Depth>

Events>

<< Nov 2017 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 1 2 3

Maritime Information Warfare 2017

Maritime Information Warfare will focus on the growing need for navies to develop their information exploitation capabilities…

read more >

INTERNATIONAL GREEN SHIPPING AND TECHNOLOGY SUMMIT

The Summit will gather key marine experts and companies around the globe which have a big influence in the industry…

read more >

The CWC 18th Annual World LNG Summit & Awards Evening

The CWC World LNG Summit will continue to give you access to premium networking opportunities as it brings together the who’s who…

read more >

Marintec China 2017

The largest maritime event in Asia Pacific, Marintec China connects maritime professionals from the entire shipbuilding supply chain together.

Over the years, Marintec China has grown to reflect the size and importance of the Asian maritime market. 2015 event is another record-breaking edition with the largest exhibition area and the highest number of industry professionals attending ever. The encouraging figures proven that China remains one of the major shipbuilding nations and Marintec China has been the most authoritative platform in Asia.

With the maritime industry facing great opportunities but also many challenges, it is important for the industry to connect and engage more to ultimately win new business in globally-significant markets. A visit to Marintec China is a great way to learn about the latest technology and innovation of the supply industry, a platform for industry professional to meet face to face, make connection and do business.

Marintec China is poised to be the definitive event and is undoubtedly a must-attend for all involved in the maritime industry.

Marintec China will be held from 5 to 8 December 2017 at the Shanghai New International Expo Centre in Shanghai, China and continue its dedication to serve as the “LEADING” platform “CONNECTING” the community and “STRENGTHENING” the maritime industry.

Marintec China offers the perfect opportunity for companies serving the maritime market to showcase their innovations, products and services to a wide audience. A platform for face to face meetings in business, creating new relationships and consolidating existing ones.

More info

read more >