Official: India to invest $85mln in Chabahar

FNA – Managing Director of Iran’s Ports and Maritime Organization Mohammad Rastad announced that India is resolved to usher in its multi-million investment in the Southeastern Iranian port of Chabahar very soon.

“India will officially start activities in Chabahar port with a capital investment of 85 million dollars,” Rastad said.

The senior Iranian official underlined that India will supply the needed equipment to Chabahar port city.

India is to equip and operate two berths in Chabahar Port’s Phase I with a capital investment of about $85 million and annual revenue expenditure of $23 million on a 10-year lease.

Chabahar Free Trade Zone is located in Southeastern Iran in an area of 14,000 hectares. Chabahar was established following a directive by the Iranian Parliament.