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India hopeful of making Chabahar port operational by 2018

Discussion in 'International Politics' started by Agent_47, Aug 6, 2017.

  1. Agent_47

    Agent_47 Admin - Blog IDF NewBie

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    NEW DELHI: The government is hopeful that the strategic Chabahar Port will be operational by 2018, Union minister Nitin Gadkari has said.

    The Road, Transport, Highways and Shipping Minister Gadkari is in Tehran today to represent India at the oath taking ceremony of President Hassan Rouhani.

    Prime Minister Narendra Modi had earlier congratulated Rouhani on his re-election as the President of Iran and affirmed India's commitment to strengthen the special relations between the countries.

    "India and Iran have been historically sharing special ties ... We are keen on developing Chabahar Port and are hopeful of starting operations in 12 to 18 months," Gadkari told PTI.

    Gakdari is keen on expediting development of the Chabahar port, located in the Sistan-Baluchistan province on the energy-rich Persian Gulf nation's southern coast that can be easily accessed from India's west coast, bypassing Pakistan.

    The visit assumes significance as India has accelerated work at the Chabahar port and finalised some tenders for installation of key equipment at Chabahar Port.

    "Civil construction work has started there. We have finalised tenders worth Rs 380 crore for equipment out of Rs 600 crore and once the port becomes operational it will become a growth engine," the minister has said.


    Gadkari said that he was also hopeful of certain approvals from the Iranian government for expediting work and added that once Chabahar becomes operational the trade and business between both the nations would see a boost.

    For greater trade and investment flow with Iran and neighbouring countries, the Cabinet last year cleared proposals for development of Chabahar port including a US$ 150 million credit from Exim Bank.

    It also authorised the Shipping Ministry to form a company in Iran for implementing the Chabahar Port Development Project and related activities.

    As per the MoU signed between the two nations in May last year, India is to equip and operate two berths in Chabahar Port Phase-I with capital investment of US$ 85.21 million and annual revenue expenditure of US$ 22.95 million on a 10-year lease.


    Ownership of equipment will be transferred to Iranian side on completion of 10 years or for an extended period, based on mutual agreement. The Iranian side had requested for provision of a credit of US$ 150 million in accordance with the MoU.

    As per the pact, operations of two berths are to commence within a period of maximum 18 months after the signing of the contract.


    Besides the bilateral pact to develop the Chabahar port, for which India will invest US$ 500 million, a trilateral Agreement on Transport and Transit Corridor has also been signed by India, Afghanistan and Iran.

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  2. Zer0reZ

    Zer0reZ 2nd Lieutant FULL MEMBER

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    India’s First Shipment of Wheat To Enter Via Chabahar

    The ACCI officials said Chabahar Port will become a viable route for traders to bring goods into the country from India.

    [​IMG]

    Officials from the Afghanistan Chamber of Commerce and Industries (ACCI) said India will send its first cargo of wheat to Afghanistan through Chabahar Port in Iran.

    The ACCI officials said the move to send in at least 130,000 tons of wheat to Afghanistan will strengthen trade ties between the two countries.

    “This process is crucial for strengthening trade and transit relations of Afghanistan with India and Iran. We will continue our efforts to provide better grounds for increasing trade activities,” the ACCI deputy head for trade, Kamila Sediqi said.

    “Many (Afghan) investors will try to do business through Chabahar once the process kicks off. This will help investors send their goods to India and import goods through a closer route,” the CEO of the ACCI, Atiqullah Nasrat said.

    This comes after President Ashraf Ghani said during his trip to India this week that Afghanistan appreciated India’s move to send in the wheat to the country.
     

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