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Perth
October 16, 2019
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Iran offers India $8 billion of projects

TEHRAN: Iran has offered $8 billion worth to India for infrastructure projects of, including a stake in developing the strategic port of Chabahar, the country’s ambassador to New Delhi has said.

The two countries signed a MoU in May for Chabahar’s development in southeast Iran but a commercial consensus will be required to implement the pact.

New Delhi wants to use the port’s potentials for connectivity, including its terminals to operate container and multi-purpose cargo ships for trade with Afghanistan and the Central Asian countries.

Ambassador Gholamreza Ansari said President Hassan Rouhani had offered Prime Minister Narendra Modi an expanded role for India to play in Iran’s connectivity plans.

“Connectivity is the main policy of Modi that coincides with Iran’s government policy. We have offered them, in connectivity, $8 billion of projects,” the Indian media quoted Ansari as saying.

Iran is fleshing out the transportation network on its southern coasts as it is developing an integrated transit corridor which connects the Persian Gulf to the Caspian Sea for a link with the Central Asia and beyond.