Print Edition - 2018-02-19  |  Money Digest

India, Iran sign pact on leasing port

NEW DELHI

Feb 19, 2018-

India and Iran on Saturday signed agreements including Tehran leasing to New Delhi operational control of part of the Iranian east coast port of Chabahar for 18 months. The $85 million project, just 90 km from the China-sponsored Gwadar port in Pakistan, creates a transit route between India, Iran and Afghanistan, bypassing Pakistan. India is trying to develop Chabahar as a way to gain access to the markets of central Asia as well as Afghanistan. But progress is slow because of concern that US President Donald Trump’s administration in Washington may eventually scrap the Iran nuclear deal. A leasing agreement giving operational control to India of Shahid Beheshti port—phase one of the Chabahar port—was signed in the presence of Prime Minister Narendra Modi and Iranian President Hassan Rouhani. (REUTERS)

Published: 19-02-2018 10:07

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