India to invest big in Iran's Chabahar PortStaff writer ▼ | November 8, 2014
Indian Shipping Minister Nitin Gadkari stressed that his country is resolved to make major investments in the Southern Iranian port of Chabahar in various sectors, including the transit of Indian products to other countries.
Cooperation 18 months to build a container terminal
Mr. Gadkari underlined that the capabilities, capacities and unique location of Chabahar have prepared a suitable ground for investment of India's private sector in this port city.
Mr. Gadkari said good infrastructural plans such as petrochemical refinery, railway, development of the jetty and transit route are either under implementation or study which will pave the way for profitable investment.
The Port of Chabahar is a seaport in Southeastern Iran. Its location lies on the border of the Indian Ocean and the Sea of Oman. It is the only Iranian port with direct access to ocean. The port was partially built by India in the 1990s to provide access to Afghanistan and Central Asia, bypassing Pakistan.
Iran's Chabahar port, which is located 72 kilometers West of Pakistan's Gwadar port, holds immense strategic and economic significance for India. Chabahar and Gwadar ports are located in a common coast and they are 70 kilometers away from one another. ■