India to Invest Big in Iran’s Chabahar Port

According to the Exim Online, India plans to invest between Rs 300-Rs 400 crore in the second phase of Iran’s Chabahar port expansion.

India’s interest in this project is not only to get direct access to Central Asia, but also to facilitate import of minerals from Afghanistan via Chabahar.

Two teams of experts, constituted by Indian Ports Association, had visited the Chabahar port and identified the scope for investment.

“Almost 70% work in the first phase has been completed. Iran has invested about $340 million in the venture. Our role would be in the second phase. We have submitted the three investment options to the ministry of external affairs,” said the shipping ministry official.

[mappress]

World Maritime News, August 30, 2012