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India to invest $85 million in Southeastern port of Chabahar

Staff writer ▼ | August 20, 2015
Iran has endorsed an Indian consortium's 85-million dollar offer for making investments to develop the Southeastern port of Chabahar, head of the Port and Marine Organization in Sistan and Baluchestan province said.
Cooperation between countries   $85 million for the port development
"An Indian consortium, including two companies, is to make investments in Chabahar port in the upcoming two months," the head of Port and Marine Organization in Sistan and Baluchestan Siavash Rezvani said at a news conference in Chabahar.

The official added that an Iranian company has been appointed to cooperate with Indians and National Development Fund of Iran (NDFI) is due to provide the Iranian operator with $330 million of facilities.

"The inked contract with Indians is in the form of Build–operate–transfer (BOT)," he added.

He explained that under the endorsed BOT, the Indians will receive a concession from Iran to finance, design, construct, and operate in Chabahar Port and recover their investment, operating and maintenance expenses in the project.

Just some 72 km West of China-developed Gwadar port in Pakistan’s restive province of Baluchistan, Chabahar, on the mouth of the Straits of Hormuz in the Persian Gulf, provides India a land-sea access route into Afghanistan and Central Asia through the Bandar Abbas-Caspian Sea axis.

Several foreign countries are willing to make huge investments in economic and infrastructural projects of Chabahar Port following the July 14 agreement between Tehran and six world powers but Iran is scrutinizing the offers to select the most qualified ones as its future partners.