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Iran opens $1 billion extension at closest port to Indian Ocean

Reuters  |  DUBAI 

DUBAI (Reuters) - Iran opened on Sunday a $1 billion extension of its southeastern Chabahar port which Tehran hopes will help the country become a key transit route to land-locked Afghanistan and Central Asia, competing with a nearby Pakistani port.President Hassan Rouhani inaugurated the expansion, carried out with an investment of $1 billion including $235 million from India, which has more than tripled the port's capacity to 8.5 million tonnes a year, state television reported.India has committed $500 million to the Chabahar port on the Gulf of Oman which is Iran's closest to the Indian ...

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First Published: Sun, December 03 2017. 18:10 IST