igPic
India aims to invest $100m in Iran’s Chabahar port
6/2/2013 2:32:23 PM
The delegation is led by the deputy director of the Shipping Corporation of India, according to the report.
 
Indian investors had previously announced readiness to participate in the Chabahar-Mashhad railroad project, which extends from southeast to northeast for 1,000 kilometers.
 
New Delhi is ready to invest in Iran's Chabahar port to turn it into a hub for the transit of its goods and products to the other countries, Indian External Affairs Minister Salman Khurshid has said.
 
Iran and India have agreed on transit of Indian goods to Afghanistan via Chabahar in a bid to ease its exports to Afghanistan, the Indian Express newspaper quoted an informer Indian source as saying on condition of anonymity. 
 
The source said that the reason behind expediting choosing Chabahar as the port for transit of its export commodities is attributed to China's decision to assume the management of Pakistan's Gwadar port. 
 
The Indian Express also reported that India is planning to invest $100mln for development of Chabahar port and turning it into a hub for this purpose. 
 
Chabahar and Gwadar ports are located in a common coast and they are 70 kilometers away from one another.