Two berths to be operational by 2018
Tenders worth Rs.380 crore for equipment have already been finalized while civil construction work has already started at Iran’s Chabahar Port, said Minister of Shipping Nitin Gadkari has said.
Gadkari is hopeful of starting port operations by 2018.
The Indian Government has allocated Rs.6 billion for the port development, Phase I of which is leased for 10 years under Memorandum of Understanding signed in May 2016.
India is to equip and operate two berths at the Port Phase-I with capital investment of US$85.21 million.
Gadkari said he was hopeful the Iranian Government would accord certain necessary approvals for expediting the work at the port, which will boost trade and business between the two countries and in the region.
The port, located in the Sistan-Baluchistan Province on the south-eastern coast, is strategic for Indian trade.
It lies outside the Persian Gulf and is accessed from India’s western coast. fii-news.com
