Indian Company Starts Formal Operations at Chabahar's Shahid Behesti Port

Indian Company Starts Formal Operations at Chabahar's Shahid Behesti Port ... 26/12/2018 Economy

Keywords:#Afghanistan, #Aria, #Beheshti, #Chabahar, #Chabahar_Port, #Chabahar_port, #Delhi, #India, #Iran, #Iranian, #New_Delhi, #Persian, #Persian_Gulf, #Sputnik,, #TIR, #TIR_Convention, #US

The Chabahar port gives India a sea-land access route into Afghanistan through Iran’s eastern borders. Decks were cleared for the port's operations by the Indian joint venture company after the US granted it an exemption from the sanctions it imposed on the Persian Gulf nation in November.
New Delhi (Sputnik) — India Ports Global Limited has taken over operations at the Shaheed Behesti port at Chabahar, India's Ministry of External Affairs said after the first meeting of the follow-up committee for implementation of the trilateral Chabahar Agreement between India, Afghanistan and Iran.
"It agreed to finalise at the earliest the protocol to harmonise transit, roads, customs, and consular matters. It was agreed to allow cargo movement at Chabahar using TIR Convention provisions," a statement issued by India's Ministry of External Affairs reads.
During the meeting, the trade partners decided to hold an event to promote and popularise the potential of Chabahar on 26 February 2019. Also, the sides agreed to initiate a study for determining measures to make the route attractive, decrease logistic costs and pave the way for smooth operationalisation of the Chabahar agreement.
READ MORE: What Fuelled the Deadly Terrorist Attack in Iranian Port City of Chabahar — Prof
India Ports Global (a 60:40 joint venture between Jawaharlal Port Trust and Deendayal Port Trust) and Aria Banader Iranian Port signed a deal in May 2016 to equip and operate the container and multi-purpose terminals at Shahid BeheshtiChabahar Port Phase-I with capital investment of $85.21 million and annual revenue expenditure of $22.95 million on a 10-year lease. Cargo revenues collected will be shared by India and Iran as per an agreed formula.
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