You are here: Home » PTI Stories » National » News
Business Standard

All issues related to Chabahar Port resolved: Gadkari

Press Trust of India  |  New Delhi 

today said and have resolved all issues related to Port and will expedite the development works.

The said has already sent its first consignment of wheat to through port

"We have resolved all issues related to Port... There were some small problems. We have discussed the issues and there has been a positive approach. Already, we have started export of wheat," said after his meeting with Iranian here.

On the hurdles with regard to Chabahar Port development, the said, "The issues were small regarding port, its operations, regarding how we calculate the profit."

An official privy to the meeting told that all hurdles related to interim operationalisation of the pact have been cleared during the meeting.

last year shipped its first cargo of wheat to through the Iranian port. India has plans to export 130,000 tonnes of wheat to through Chabahar Port.

Chabahar port, located in the province in the energy-rich nation's southern coast, lies outside the and is easily accessed from India's western coast, bypassing

said, "We are supporting developmental issues in and India... . Today's meeting was very fruitful. In due course of time, there will be lots of development in Chabahar."

The minister said there will be a lot of opportunities for Indian and investors to invest in Chabhar and "at the same time, Iranian investors are also keen to invest in India. It is a win win situation for both the countries. Discussions were very fruitful".

"In due course of time, we will complete the work of the port. It can be a growth engine for India for making our exports to Afghanistan and also. We don't need to go to for that. It is a golden opportunity," the minister said.

This will open the gate for investors from both the countries, he said.

Akhoundi said India and should move together to make it more successful.

He said discussions also focused on developing infrastructure, logistic etc.

For greater trade and investment flow with Iran and neighbouring countries, the Cabinet in 2016 had cleared proposals for development of Chabahar port including a USD 150 million credit from

It had also authorised the shipping ministry to form a company in Iran for implementing the Chabahar Port Development Project and related activities.

As per the MoU signed between the two nations in May last year, India is to equip and operate two berths in Chabahar Port Phase-I with capital investment of USD 85.21 million and annual revenue expenditure of USD 22.95 million on a 10-year lease.

Ownership of the equipment will be transferred to the Iranian side on completion of 10 years or for an extended period, based on mutual agreement. The Iranian side had requested for provision of a credit of USD 150 million in accordance with the MoU.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, January 10 2018. 19:25 IST