by Wadsam | February 29, 2016 10:20 am
Afghanistan Ministry of Commerce and Industries has welcomed India’s USD 156mn investment decision to development Chabahar port.
The Ministry’s spokesperson, Mosafer Quqandi, said Afghanistan would undoubtedly benefit from India’s investment in Chabahar.
Regarding the port as profitable for India, Quqandi said the port would be advantageous for the entire region.
He added that Iran had allocated 54 hectares of land to Afghan merchants for transiting their products based on a MoU signed between Kabul and Tehran.
He also noted that Afghan high-ranking officials headed by Abdullah Abdullah visited Chabahar encouraged Afghan merchants to use this port for export and import purposes.
The Chabahar port in southeast Iran will enable India to expand their footprint in the region, notably Afghanistan.
Under a Memorandum of Understanding (MOU) agreement signed between India and Iran in May 2015, India is expected to equip and operate two berths in Chabahar port during the first phase of development. A total amount designated for these works is USD 85.21 million, plus an annual revenue expenditure of USD 22.95 million on a ten-year lease.
The countries also agreed that the ownership of equipment will be transferred to Iranian side on completion of 10 year period or for an extended period.
To be operated by the India Ports Global Private Limited, the berths are expected to start working within a period of maximum 18 months.
Source URL: http://wadsam.com/afghan-business-news/afghanistan-to-benefit-from-indias-investment-in-chabahar-232/
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