India, Iran sign 10-year contract for Chabahar port operation
7 months, 1 week ago

India, Iran sign 10-year contract for Chabahar port operation

The Hindu  

Eight years after concluding the general framework of cooperation on the Chabahar port in Iran, India and Iran on Monday signed a 10-year contract for its operation. India will use the port for humanitarian aid shipments, reaffirming its commitment to support regional development beyond commercial interests, showcasing its commitment to fostering goodwill and stability in the region,” Mr. Sonowal said. The agreement between Iran and India for the development of the Chabahar port was signed years before China’s One Belt One Road project and is based on the common interest of the two countries, he added. The port is integrated with a special free zone, which Mr. Sonowal said augmented its appeal, while India’s incentives, such as concessions on vessel-related charges and cargo charges, bolstered trade flows through Chabahar, fostering economic growth and cooperation.

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