For the time being, 19 percent of Indian company’s commitment has been fulfilled, Director-General of Ports and Maritime Organization of the southeastern Iranian province of Sistan-Baluchestan Behrooz Aqaei told IRNA.
Based on mutual agreement, the Indian side is committed to provide Chabahar with 85-million-dollar worth of strategic equipment, said Aqaei adding that $16 million from the total figure has been invested up to now.
He made it clear that India as a foreign operator has an important role to play in connecting Chabahar to global shipping network.
The investment agreement with India is the model of the build-operate-transfer (BOT) agreement for 10 years.
Chabahar is the first Iranian port which has attracted foreign operator, Aqaei underlined.
He further pointed to the May 2016 landmark transit trade agreement on Chabahar Port between Iran, India and Afghanistan and said the agreement has well highlighted key role of Chabahar as a safe and low-cost route in transit of goods in the region.
According to agreement with New Delhi, India is just an operator and it has no role to play to manage the Iranian port, Aqaei said.
Indian investment of a country in Chabahar creates no obstacle for other states to take part in development projects of the port, he added.
He added that next shipment of port equipment from India will arrive at Iranian port this year.
Chabahar Port with over 12 million tons capacity of loading and unloading in a year is an important port in southern Iran and north of Sea of Oman.
Due to its strategic position and its role in regional economic exchanges, Chabahar could be excluded from US sanctions; and this measure can highlight the port’s international role more than before.
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Original News : https://en.irna.ir/news/84298927/India-has-fulfilled-undertaking-to-develop-Chabahar