Iran, India to Finalize Contract on Development of Chabahar in 2 Weeks
TEHRAN (Tasnim) – A contract with India on the development of Iran’s southeastern port of Chabahar will be finalized within the next two weeks, a deputy minister of roads said.
CEO of the Ports and Maritime Organization (PMO) of Iran Ali Akbar Safaei had announced earlier that the details of the contract between Iran and India on the development of Chabahar had changed.
The problems in the contract were all settled after President Ebrahim Raisi took office in August 2021, he said, adding that the only outstanding provision of the contract will be resolved in less than a month.
India has undertaken to make an investment of $85 million in the development of the first phase of Chabahar Port on a Build-Operate-Transfer (BOT) basis, Safaei added, noting that the second phase of the project will be carried out with the investment of foreign companies.
The deputy roads minister put the total investment made so far by India in the development of the Beheshti Port of Chabahar at $25 million, which he said mainly includes gantry and coastal cranes.
The Indians are committed to supply a set of equipment such as coastal, gantry and yard cranes, as well as the equipment needed to load and unload cargo at the port, he continued.
The long-term contract, which will be finalized soon, is expected to serve the interests of the country, Safaei concluded.