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Iran’s FM: Tehran considers New Delhi as a reliable partner
Amir-Abdollahian made the remarks in a meeting with the Indian Cabinet Minister of Ports, Shipping and Waterways Sarbananda Sonowal in Tehran on Monday. He said that Iran has a strategic approach towards relations with India and is ready to further expand cooperation with New Delhi within the framework of BRICS group of major emerging economies and Shanghai Cooperation Organization (SCO).
Referring to a long-term deal signed between Iran and India on Monday, the Iranian foreign minister described the agreement as a very important opportunity to expand the volume of trade relations between the two countries and the region. On Monday, the Indian Ports Global Limited (IPGL) and the Port & Maritime Organization of Iran signed a 10-year deal for the development of the port.
Sarbananda expressed his satisfaction with the conclusion of the agreement and described it as an important and historic day in relations between the two countries and regional ties.
Under the agreement, IPGL will invest about $120 million with an additional $250 million in financing, bringing the contract’s value to $370 million, said Iran’s Minister of Roads and Urban Development Mehrdad Bazrpash.
India’s Foreign Minister S Jaishankar said the deal “will clear the pathway for bigger investments to be made in the port”.
India had entered an agreement to develop the Chabahar port in 2016. India took over operations of the port at the end of 2018. The port opened a transit route for Indian goods and products to Afghanistan and Central Asia.