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EghtesadOnline: India is keen on expediting the development of Chabahar Port in Iran and hopes to complete the first phase of the project next year. This was announced by India’s Minister for Road Transport and Highways and Shipping Nitin Gadkari, the local newspaper Millennium Post reported.

Located in Sistan-Baluchistan Province on Iran’s southern coast, Chabahar is easily accessed from India’s western coast, bypassing Pakistan. “We can complete the work on the first phase of the project in 2018 ... The funds are likely to be released shortly. Tenders are out for the project,” he said. Kandla Port has floated tenders inviting global bids for supply and commissioning of terminal tractor trailers, forklifts, stackers, container handlers and yard cranes among other equipment at Shahid Beheshti Port in Chabahar.

The Indian Cabinet has already approved funds for the project’s development. For greater trade and investment flow with Iran and neighboring countries, the Cabinet last year had cleared proposals for development of Chabahar Port, including through a $150 million credit from Exim Bank. It also authorized the Shipping Ministry to form a company in Iran for implementing the Chabahar Port Development Project and related activities, Financial Tribune reported.

Nitin Gadkari Iran-India cooperation Chabahar Project Iran's Chabahar