Chabahar Port, located in Sistan-Baluchistan province on the south-eastern coast of Iran, is expected to be operational by 2018-end. Iran will soon be sending an application for provision of credit to Exim Bank of India to provide the first tranche of loan from the $150-million credit line that India plans to start. This is required to activate the contract between India and Iran for Chabahar Port.
“Iran is important not just strategically but logistically to India,” said Nitin Gadkari, Minister for Road Transport & Highways, Shipping and Water Resources, River Development & Ganga Rejuvenation.
Speaking at a conference here on Wednesday, Gadkari said the rail link could be started using the Shipping Ministry’s Indian Port Rail Connectivity Ltd if Ircon has concerns.
“Using Chabahar, we can go to Russia and further to Europe by road,” he said.
“We should be receiving the application in a few days, which will enable releasing of first tranche of loan,” Alok Srivastav, Special Secretary, Shipping Ministry, said, adding that the port should get operational by December 2018.
The port will also serve as an important transit point for Afghanistan's cargo, said Gadkari.
Next month, there will be a business discussion, inviting various logistics partners not just from India, Afghanistan, Iran, but other global partners to invest in the free trade zone in Chabahar, the Minister added.
Source: The Hindu Business LinePrevious Next