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FinancialNews
28-07-18
Iran's Chabahar Port to receive USD85m investment from India
(MENAFN) Chabahar Port in southeast Iran was unveiled to be received USD85 million of investment from India, as it prepares to official launch its activities in the short run.
The news has been announced by Mohammad Rastad, Managing Director of Iran's Ports and Maritime Organization (PMO) during a meeting of eputy ministers of roads and urban development in Chabahar, as reported IRNA.
The PMO managing director revealed India Ports Global Limited (IPGL) to be making the investment in the port.
Rastad further confirmed India to be providing the Iranian port with equipment, a move considered as part of the project.
He added "currently, Chabahar Port does not have the capacity to handle high volumes of cargo transportation and transit."
MENAFN2807201800450000ID1097211547
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