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India to invest $75 million in Iran's Chabahar port

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Staff writer ▼ | May 31, 2016
India is willing to make $75 million of investment in the port city of Chabahar in this southeastern province in Iran, a local official said.
Chabahar port
Investing in Iran   India is keen to invest in Iran after sanctions
Siyavash Rezvani, who is the head of Ports and Shipping Organization in the province, told IRNA that the Indian government and investors have long before expressed interest in making investment in the port city after a project opened there to develop Shahid Beheshti jetty.

However, the official added, India has started no practical job on the port yet. As for the development project of the port, he said the plan started in 2007 with a total budget of $340 million in five phases.

He said once the development project is completed, Indian firms will be able to make investment on purchasing and installing the equipment needed there.

According to the official, India is keen to invest in railway industry and petrochemical projects as well.