NEWS – India and Iran sign a 10-year deal for the Shahid Beheshti Terminal of Chabahar Port.

INVOLVED ENTITIES – India Ports Global Limited (IPGL) and the Ports and Maritime Organisation of Iran (PMOI)

CONTRACT HIGHLIGHTS

• IPGL to equip and operate the port with a provision for further cooperation
• IPGL plans to invest $120 million for port development.
• India extends an Indian Rupees credit window worth $250 million for infrastructural projects.

Regional Connectivity Focus

• Shared vision to make Chabahar Port a connectivity hub for India, Afghanistan, Central Asia, and Eurasia.
• Agreement emphasizes long-term involvement in port development and operation.

Historical Context

• Trilateral Agreement in 2016 established the International Transport and Transit Corridor involving India, Iran, and Afghanistan.
• India’s ongoing participation in the first phase of Shahid Beheshti Terminal development underscores long-term cooperation.