News / Brèves BRICS Silk Road / Route de la soie Back to previous selection / Retour à la sélection précédente The First Phase of Chabahar Port in Iran Will Be Ready in 2018, Says Indian Transport Minister 10 March 2017 EIRNS—Speaking to the state-owned Press Trust of India (PTI), India’s Shipping, Road Transport and Highways Minister Nitin Gadkari said, "India is keen on expediting development of Chabahar Port in Iran and hopes to complete the first phase of the project next year." Located in Iran’s Sistan-Balochistan province on the Gulf of Oman, the eastern segment of the Persian Gulf, the port is easily accessible from India’s western coast. New Delhi has already approved the $150 million needed to complete the Phase I. Gadkari said the fund will be released soon and tenders are out for the project. PTI reported, "India’s Kandla Port has floated tenders inviting global bids for supply and commissioning of terminal tractor trailers, forklifts, reach stackers, empty container handlers and yard cranes among other equipment at Shahid Beheshti Port, Chabahar, Iran." Completion of the first phase will make operational two berths. Besides the bilateral pact to develop the Chabahar port, for which India will invest $500 million, a trilateral Agreement on Transport and Transit Corridor has also been signed by India, Afghanistan, and Iran. "India and Iran signed a memorandum of understanding in May 2016, which lets India equip and operate two berths in Chabahar Port Phase-I on a 10-year lease. After 10 years, the ownership of equipment will be transferred to the Iranian partner," Sputnik reported. The development of Chabahar Port will cut transportation costs and time between Iran and India’s western coast ports by almost a third. Moreover, the access to Chabahar Port and to Zahedan farther north, will ensure that India will be able to reach four major Afghan cities, Kabul, Kandahar, Herat and Mazar-e-Sharif, through Afghanistan’s Garland Highway. [RMA]