India takes steps to operationalise Chabahar Port
India is all set to commence operations in the coming few days at the Chabahar Port. Also, the development of the port by India will continue despite the US pulling out of the multilateral Iran nuclear accord and threatening to impose sanctions on countries doing business with the Persian Gulf nation.
India has chosen Kaveh Port and Marine Services Co. to handle operations at Chabahar Port for a period of 18 months before picking a competent Indian firm for managing and maintaining the facility in the long term. Under the agreement, India is to equip and operate two berths in Chabahar Port Phase I with capital investment of $85.21 million and annual revenue expenditure of $22.95 million on a 10-year lease.