India to Start Ops at Iran’s Chabahar Port by 2018

India is looking to start operations at the Chabahar Port in Iran by 2018, according to the country’s Ministry of Shipping.

The Minister for Road Transport & Highways and Shipping Shri Nitin Gadkari informed that the development project at the Chabahar Port has already started with civil construction work. Once completed, the upgraded port is set to boost trade and business between the two countries and in the region.

The Indian Government has allocated INR 6 billion (USD 94.1 million) for the development of the port. Out of this, tenders worth INR 3.8 bilion (USD 59.6 million) for equipment have already been finalized.

India and Iran entered into a Memorandum of Understanding (MOU) to develop the Chabahar Port, located outside the Persian Gulf, in May 2016.

Under the deal, India is to equip and operate two berths in Chabahar Port Phase-I with a capital investment of USD 85.21 million and annual revenue expenditure of USD 22.95 million on a 10-year lease.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jan 2020 >>
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 31 1 2

The 9th Annual Event Green Shiptech China Congress 2020

The 9th Annual Event- Green Shiptech China Congress 2020 will be held on next…

read more >

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >

2nd GREENTECH IN SHIPPING GLOBAL FORUM

Forum you will find out from the regulators, government bodies and major ports’ representatives what the near…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >