India agrees to develop Iran’s Chabahar port
The port plays a key role in opening up a trade route for India to landlocked Afghanistan where India has political ties and economic interests.
New Delhi intends to lease two berths at the port for ten years and plans to invest USD 85.21mn in one year to convert the berths into a container terminal and a multi-purpose cargo terminal.
Situated in southeastern Iran, Chabahar port is about 1000km closer to Afghanistan than the Karachi Port, through which most of Afghanistan’s exports and imports take place.
The port serves as the best alternative to the Pakistan’s Karachi Port where export activities are constantly interrupted by political restrictions and high storage cost.
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