$120 mn investments, $250 mn credit line to fund Chabahar port growth

Major issues ironed out; Iran agrees for arbitration at SIAC

India’s 10-year bilateral contract with Iran for the operation of Chabahar Port is likely to bring in an investment of approximately $370 million. This comprises a direct investment of $120 million from India for infrastructure development and a $250 million line of credit to Iran, Business Standard has learnt.

With the $120 million committed for port development, India is set to procure advanced equipment, such as rail-mounted quay cranes, rubber-tyred gantry cranes (also known as transtainers), reach stackers, and forklifts. The funds will also be directed towards the development of related infrastructure.

The agreement, signed for a decade, can be