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India's participation Chahbahar port in Iran

India's participation in the development of Chahbahar port in Iran The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, today gave its approval for the framework inter-Governmental Memorandum of Understanding (MoU) that is to be finalised by the Government of India with the Government of Iran. This inter-Governmental MoU will have the following main elements:- i. An Indian Joint Venture (JV) company will lease two fully constructed berths in Chahbahar port’s Phase-I project for a period of ten years, which could be renewed by “mutual agreement”. ii. The JV company will invest US $ 85.21 million for equipping the two berths within 12 months as a container terminal and the second as a multi-purpose cargo terminal. iii. The Indian side will transfer owner...
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