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India to move ahead with Iran’s Chabahar port project

: Sunday, June 22 - 2014 @ 02:12

The new Indian government has decided to press ahead with the long-delayed construction of strategically critical Chabahar port in Iran that would give India easier access to Afghanistan and Central Asia through a shorter route, Economic Times has reported. The project, which involves a capital expenditure of about Rs550 crore, will be implemented by a special purpose vehicle formed by Jawahar Lal Nehru Port Trust and Kandla Port Trust along with a private player. The two countries had decided on the project in 2003, but the venture failed to make much headway because of US sanctions on Iran, even though port construction was exempted from the sanctions.

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Sunday, June 22- 2014 @ 2:12 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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