BAKU, Azerbaijan, June 21. A contract will be signed between Iran and India regarding India's investment in Iran’s Chabahar port in the Sistan and Baluchestan Province (south-eastern Iran), in the near future, Iranian Deputy Minister of Roads and Urban Development and the Head of the Iranian Ports and Maritime Organization (PMO), Ali Akbar Safaei said, Trend reports.
Safaei said that in this regard, discussions were conducted with the Indian side for 4 days in the last week. During the discussions, an agreement was reached on a number of disagreements that existed in the past years.
“As part of the memorandum of understanding among Iran, India, and Afghanistan, so far, an investment worth $25 million has been attracted to Iran and will be used to develop the port,” he said.
The deputy minister also noted that a total of $80 million will be invested in the port of Chabahar based on a long-term agreement between Iran and India.
A memorandum of understanding was signed between Iran, India, and Afghanistan in 2016. According to the memorandum, Iran's Chabahar port is used for the trade of goods between India and Afghanistan. Under the memorandum, the operator of Chabahar port, India's IPGL company, will invest $85 million in this port.
Within the framework of the memorandum, two 140-ton cranes worth a total of $7.5 million were brought from India and installed in Chabahar port in the past years. With the cranes, the annual loading and unloading capacity of the port reached 20 million tons.
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