India-Iran: 10-Year Deal for Chabahar Port Operations
On 13th May, 2024, India and Iran signed a decade-long contract to operate the Chabahar port, marking a significant step in bolstering regional connectivity and trade.
Contract Details
- Parties Involved: India Ports Global Ltd (IPGL) and Ports & Maritime Organisation of Iran (PMO).
- Investment: IPGL to invest $120 million for port equipment and operation.
- Credit Line: India offers a credit line equivalent to $250 million for infrastructure projects.
Historical Context
- Initial Development: The port’s strategic significance was realized during the Iran-Iraq war of the 1980s.
- Early Agreements: Discussions between India and Iran date back to 2002, with a strategic cooperation roadmap signed in ....
Do You Want to Read More?
Subscribe Now
Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material before the last six months of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
Related Content
- 1 India Assumes Chairmanship of Bay of Bengal Inter-Governmental Organisation
- 2 Israel Withdraws from UN Human Rights Council
- 3 US Shifts Stance on Ukraine at UN Vote
- 4 India at the Indian Ocean Conference
- 5 India and France Strengthen Partnership
- 6 US-India COMPACT Initiative
- 7 Bhutan PM’s Visit Strengthens India-Bhutan Ties
- 8 India and Japan: Partnering for Africa’s Sustainable Development
- 9 Australia’s Roadmap for Boosting Trade Ties with India
- 10 Interpol Launches ‘Silver Notice’ to Combat Transnational Crime
- 1 India, UK Reaffirm Commitment to Free Trade Agreement
- 2 Nepal Adds Disputed Territory to Currency Note
- 3 Norway, Ireland and Spain Formally Recognize a Palestinian State
- 4 EU's AI Act Set to Enforce Landmark Rules
- 5 Vietnam Urges US to Reclassify Economy
- 6 ICC Requests Arrest Warrants against Hamas Leaders and Israeli PM
- 7 Russia and China Reaffirm “No-Limits” Partnership
- 8 NHRC Faces Accreditation Deferral by UN-Affiliated Body
- 9 Japan and China Express Concern Over India’s Laptop Import Licensing Measure
