In a crucial move towards strengthening economic ties between Bharat and Iran, a historic agreement was formalised on Monday, marking a pivotal moment in the transformation of the Chabahar Port into a regional trade and connectivity hub. The signing ceremony, graced by esteemed officials from both nations, including Bharat’s Union Ports, Shipping, and Waterways Minister Sarbananda Sonowal and Iran’s Roads and Urban Development Minister Mehrdad Bazrpash, signifies a significant leap forward in bilateral cooperation.
https://x.com/sarbanandsonwal/status/1789980437961703586
The landmark 10-year contract, sealed between India Ports Global Ltd or IPGL and the Ports & Maritime Organisation of Iran or PMO, displays IPGL’s steadfast commitment to advancing the port’s development and administration. With an investment of approximately $120 million earmarked for enhancing infrastructure, IPGL’s dedication to Chabahar’s prosperity is unmistakable. Furthermore, Bharat’s pledge of a USD 250 million line of credit for collaborative projects aimed at enhancing Chabahar’s infrastructure highlights the nation’s unwavering support for the port’s expansion.
Tags: Chabahar Port AgreementIndia-Iran Economic DealSarbananda Sonowal
