India-Iran: 10-Year Deal for Chabahar Port Operations
On 13th May, 2024, India and Iran signed a decade-long contract to operate the Chabahar port, marking a significant step in bolstering regional connectivity and trade.
Contract Details
- Parties Involved: India Ports Global Ltd (IPGL) and Ports & Maritime Organisation of Iran (PMO).
- Investment: IPGL to invest $120 million for port equipment and operation.
- Credit Line: India offers a credit line equivalent to $250 million for infrastructure projects.
Historical Context
- Initial Development: The port’s strategic significance was realized during the Iran-Iraq war of the 1980s.
- Early Agreements: Discussions between India and Iran date back to 2002, with a strategic cooperation roadmap signed in ....
Do You Want to Read More?
Subscribe Now
To get access to detailed content
Already a Member? Login here
Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material since 2018 of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
World Watch
- 1 Algeria Joins New Development Bank
- 2 UK Transfers Sovereignty of Chagos Islands to Mauritius
- 3 India Assumes APO Chairmanship for 2025–26
- 4 Colombia Joins China’s Belt and Road Initiative
- 5 UN Peacekeeping Ministerial 2025
- 6 US-Ukrainian Deal Grants Preferential Mineral Access to US
- 7 US Approves Maritime Security Deal with India
- 8 Quad Nations Indo-Pacific Logistics Network (IPLN)
- 9 CPEC Extension to Afghanistan: Strategic Concerns for India
- 10 Nicaragua Withdraws from UNESCO