India Development News & Foreign Investment Opportunities

India starts operating part of Chabahar port


First vessel unloads Brazilian corn


India has started operating part of the Chabahar port. The heads of Indian, Iranian and Afghanistan delegation jointly inaugurated the office of the Indian Special Purpose Vehicle (SPV), India Ports Global Chabahar Free Zone (IPGCFZ), at Chabahar.

The physical take-over of the terminal area, cargo handling equipment and Office building was completed by 29 December 2018, said a release on the Press Information Bureau on 7 Jan 2019 in Delhi.

With this, India is now operating a part of Shahid Beheshti Port at Chabahar.

The takeover began on 24 Dec 2018 during the Chabahar Trilateral Agreement meeting held there on the 24th of December 2018.

Commercial operations began at IPGCFZ with the arrival of a vessel. A Cyprus registered bulk carrier had arrived at Chabahar with 72,458 MT of Brazilian corn cargo on 30 Dec 2018.

This marks the beginning of a long journey. India has written a history with its engagement in Chabahar and is now leading the regional cooperation and joint efforts to support land locked Afghanistan, said the release.

This is the first time India will be operating a port outside its territories.

India started interacting with Iran on Chabahar Port around 2003 but a major push was received in the second half of 2014, resulting in the signing of an MOU between the two countries for the development of Chabahar Port in May 2015.

A formal 10-year Contract for Equipping and Operating the Chabahar Port followed the MoU.

Leave A Reply

Your email address will not be published.