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 ....
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