India to sign MoU with Iran to develop Chabahar port

April 28, 2015 11:31 am Published by

The Union Shipping Minister, Mr Nitin Gadkari, during his upcoming visit to Iran, is expected to sign an inter-governmental memorandum of understanding (MoU) with the Persian Gulf country to finalise the India-Iran deal on Chabahar port, under which India will develop and operate a container terminal and multi-purpose berth at the port, it is learnt.

India would also try to secure a waiver of the US sanctions on activities at Chabahar by discussing the matter with Washington, according to reports.

Once the MoU is signed, the Indian government would be investing a significant amount towards developing and running the facility, sources said.

It may be recalled that the Centre had approved the formation of a joint venture company, India Ports Global, by Kandla Port Trust and Jawaharlal Nehru Port Trust in October 2014 for investing in this and other such projects.

Categorised in:

This post was written by Atlantic Admin