Iran, India reach good economic agreements: Iranian official

IRNA – Tehran and New Delhi have already reached good agreements on economic and industrial cooperation, an Iranian official announced here on Saturday.

Talks on India’s investment on Iran’s transportation infrastructure started two years ago, Asghar Fakhriyeh Kashan, deputy minister of roads and urban development told the Islamic Republic News Agency (IRNA).

‘Making an 85-million-dollar investment in southeastern Iranian port of Chabahar to install the port equiment, Indian government’s 150-million-dollar finance to develop Chabahar Port, and New Delhi’s another 150-million-dollar finance for buying the rails, are examples of Indian companies’ investments in Iran,’ the official said.

He added Iran is negotiating with the Indian companies to facilitate their investment in the rail projects in the country.

Another important investment project between Tehran and New Delhi is about providing money for buying 200 locomotives which will meet Iran’s needs to these products for the next 15 years, the official added.

About the three-day visit of the Iranian President Hassan Rouhani to India which started on February 15 at the invitation of the country’s Prime Minister Narendra Modi, the official expressed hope that further good agreements would be signed between the two countries.