World Today by Binay Srivastava

Just another weblog

India to Build Chabahar port in South-East Iran

on October 31, 2015

The Chabahar port in southeast Iran, when completed, will aid India’s efforts to circumvent Pakistan and open a new route to landlocked Afghanistan where it has developed close security ties and economic interests. It will also allow India to play a big role in increasing influence in Central Asia.

Iranian President Hassan Rouhani has asked India to invest in infrastructure projects worth $8 billion, including an expanded role in developing a strategic port that will open up access to Central Asia.

The potential between Iran and India is great provided no new wall of sanctions is imposed by powers that be.

Iran and six world powers have already reached a nuclear deal for sanctions to be lifted. With nuclear sanctions gone, India gets a golden time to seize investment opportunities because of the two countries’ close trade ties and shared interest in improving Central Asian transport links through road connectivity. Iran offered India $8 billion of projects.

India and Iran agreed in 2003 to develop Chabahar on the Gulf of Oman, near Iran’s border with Pakistan, but the venture has moved slowly because of the sanctions over Iran’s nuclear program. The US-led trade restrictions that halved their oil trade to 220,000 barrels per day last year, the two countries maintained a close bilateral and economic relationship. In May, India signed a $85 million deal for India to lease two existing berths at the port and use them as multi-purpose cargo terminals.

Under the new proposal India could help build second and third terminals at the port, as well as railway connections into the rest of Iran.

India has moved slowly on opportunities in Iran in the past, including the giant Farzad B gas field. According to Iran government sources, India was the first priority to develop Farzad B. This time round Iran wants India to move fast or else the market will move elsewhere.


One response to “India to Build Chabahar port in South-East Iran

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