Tehran: Iran handed over the management of a part of Chabahar Port (Shahid Behishti Terminal) to India for 10 years.
In this regard, the agreement was signed in Tehran on Monday in the presence of Indian Minister for Ports and Shipping Sarbanand Sonowal and his Iranian counterpart Mehrdad Bazarpash.
According to media reports, under the agreement, India will invest $120 million in supply of strategic equipment to modernize Chabahar port and more than $250 million in transportation infrastructure.
Indian Foreign Minister Subramaniam Jaishankar said in Mumbai on Monday that the long-term deal would pave the way for more investment in Iran’s strategic Chabahar port.
India plans to transform the Chabahar port into a transportation hub as a route to transport goods to Iran, Afghanistan and Central Asian countries.
