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Indian operator office of Chabahar Port opened in Tehran
IPGCFZ is subsidiary of IPGL of Mumbai, under the administrative control of India’s Ministry of Shipping.
In the ceremony on Saturday, the IPGCFZ office was inaugurated in the presence of India’s Ambassador to Iran Rudra Gaurav Shresth along with IPGL Managing Director Sunil Mukundan.
Speaking at the ceremony, the Indian envoy stated that the opening of the office in Tehran three months after the signing of the long-term contract for the development of Chabahar Port shows India’s seriousness as well as its commitment to the implementation of the contract.
“The implementation of the contract is a win-win game for India and Iran, as it provides India with access to Central Asia and Eurasia through the territory of a friendly country Iran, and it also enables Iran to achieve a rich transit income with strengthening its connection with the Indian economy, which is the fastest-growing economy in the world,” he noted.
The ambassador expressed his hope that the strong cooperation between his country and Iran in Chabahar Port within the framework of the long-term agreement will turn the southern port into a shining symbol of bilateral cooperation.
Also addressing the ceremony, IPGL CEO said that IPGCFZ will increase the number its staff from 40 people to more than 160 ones as the current trend shows that the number of loaded and unloaded cargos is expected to increase to 100,000 TEU per annum, which currently stands at 64,000 TEU per
annum.
Iran and India on May 13 signed a long-term deal to operate the Shahid-Beheshti Port Terminal in Chabahar in the presence of their ministers, a major step to make the southeastern city a regional trade transit and connectivity hub.
The Indian delegation to Iran was led by Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal, while Minister for Roads and Urban Development Mehrdad Bazrpash was present from the Iranian side.
During his visit to Tehran, Bazrpash and Sonowal oversaw the signing of a new 10-year contract between the Ports & Maritime Organization of Iran (PMO) and IPGL.
Speaking on the sidelines of the signing ceremony, Bazrpash said Iran is a land of transit opportunities as the development of Chabahar Port with access to rail and road routes can help India to access the market of Afghanistan, Central Asia, Turkey, Azerbaijan and even Russia.
Under the contract, IPGL will commit to further equipping and operating the port for the duration of the contract. At the end of the 10-year period, both sides would further extend their cooperation in Chabahar.
IPGL will invest approximately $120 million in equipping the port. India has also offered an IN credit window equivalent to $250 million, for mutually identified projects aimed at improving Chabahar-related infrastructure.
Chabahar Port is an Iran-India flagship project that serves as an important transit port for trade with Afghanistan and Central Asian countries, which are landlocked countries. India has been a key player in the development and operation of Chabahar Port.
The Indian government has invested in the port’s infrastructure and has been involved in upgrading its facilities to make it a viable transit route for Indian goods bound for Afghanistan and Central Asia.