India approves plan to develop Iran's Chabahar port

Published October 19, 2014
The port in southeast Iran is central to India's efforts to circumvent Pakistan and open up a route to landlocked Afghanistan. – File Photo/AFP
The port in southeast Iran is central to India's efforts to circumvent Pakistan and open up a route to landlocked Afghanistan. – File Photo/AFP

NEW DELHI: India will float a company to develop Iran's Chabahar Port, a government statement said on Saturday, as New Delhi aims to take advantage of a thaw in Tehran's relations with world powers.

The port of Chabahar in southeast Iran is central to India's efforts to circumvent Pakistan and open up a route to landlocked Afghanistan where it has developed close security ties and economic interests.

Iran and six world powers are engaged in talks to agree on a deal easing sanctions against Tehran before a late-November deadline.

The powers want Iran to scale back its uranium enrichment programme to ensure it cannot produce nuclear bombs. Iran says the programme is for peaceful purposes.

India plans to sign an agreement with Iran for the development of the port and New Delhi intends to lease two berths at Chabahar for 10 years, the statement said.

The planned Indian company will invest $85.21 million in one year to convert the berths into a container terminal and a multi-purpose cargo terminal, the statement said, adding India would consider the participation of Iranian firms if needed.

Opinion

Editorial

Football elections
17 Nov, 2024

Football elections

PAKISTAN football enters the most crucial juncture of its ‘normalisation’ era next week, when an Extraordinary...
IMF’s concern
17 Nov, 2024

IMF’s concern

ON Friday, the IMF team wrapped up its weeklong unscheduled talks on the Fund’s ongoing $7bn programme with the...
‘Un-Islamic’ VPNs
Updated 17 Nov, 2024

‘Un-Islamic’ VPNs

If curbing pornography is really the country’s foremost concern while it stumbles from one crisis to the next, there must be better ways to do so.
Agriculture tax
Updated 16 Nov, 2024

Agriculture tax

Amendments made in Punjab's agri income tax law are crucial to make the system equitable.
Genocidal violence
16 Nov, 2024

Genocidal violence

A RECENTLY released UN report confirms what many around the world already know: that Israel has been using genocidal...
Breathless Punjab
16 Nov, 2024

Breathless Punjab

PUNJAB’s smog crisis has effectively spiralled out of control, with air quality readings shattering all past...