May 24, 2022

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No Foreign Company Dares to Invest in Iranian Ports for Now

No Foreign Company Dares to Invest in Iranian Ports for Now
No Foreign Company Dares to Invest in Iranian Ports for Now

Head of Board of Directors of Shipping Association of Iran says currently no foreign company has courage to invest in Iran’s ports, adding that Indian Company is also trying to buy time to see the fate of the Vienna talks on the JCPOA and for this reason they are playing in Chabahar Port to buy more time.

TEHRAN (Iran News) – Head of Board of Directors of Shipping Association of Iran says currently no foreign company has courage to invest in Iran’s ports, adding that Indian Company is also trying to buy time to see the fate of the Vienna talks on the JCPOA and for this reason they are playing in Chabahar Port to buy more time.

Speaking to ILNA, Rouzbeh Mokhtari talked about reasons for the delay of Indians in fulfilling their obligations and signing the 10-year agreement of India Ports Global Limited (IPGL). He said, “We could have better exploitation in Chabahar Port but it did not happen and with a realistic glance at the developments, we should say that all vows given by both Iranian and Indian sides for development of Chabaha Port have not been implemented.”

He reiterated that first some actions should have been taken for pickup in trade, economy and jobs in Chabaha Port and to this end, officials needed a professional marketing for the port that so far its custodian has not been determined.

Mokhtari reiterated that the country did not take advantage of exemption of the port from the U.S. sanctions as the country could do much better for transit between countries.

He emphasize that an independent marketing management is needed for the port to meet the national interests.

He went on to say that Indians at Shahid Beheshti Port behave in a way to buy time, reiterating that no foreign company has currently courage to invest in Iranian ports and they are waiting for the fate of the Vienna talks and Indians also are trying to buy time.

He noted that despite greenlight and easing way for investment of Indians in Chabahar Port, this Indian company has problem in banking transactions and it fears U.S. punishment for sanctions despite the U.S. waiver for investment in this port.

He reiterated that nobody has been aware of the details of contract with Indians but it seems Indians seek amendment in the contract.

According to reports, Indian banks refrain from giving facilities to this Indian company for investment in Chabahar because EXIM bank of India which is set to grant $150m credit for the project due to the U.S. sanctions is reluctant to do so.

He also criticized choosing a weak Iranian company as the contractor of the Indian operator and this decision has harmed this project .

Original News : https://irannewsdaily.com/2022/04/no-foreign-company-dares-to-invest-in-iranian-ports-for-now/

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