Indian firms to invest $235m in Chabahar port

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Managing Director of Ports and Maritime Organization said that the capacity of Chabahar port will increase from 2 million tons to 8 million tons after Indian firms’ $235-million investment.

Mohammad Saeed Nejad told IRNA on Tuesday that Indian firms are to invest $85m in build–operate–transfer type (BOT) and $150m in finance type to supply required equipment for Chabahar port.

Based on the BOT contract, Indian firms will have to deliver all the equipment to Iran after 10 years, he said.

By making $150-million finance investment to buy and install port equipment, Indian firms will invest $235m during 18 months to supply required equipment.

Saeed Nejad said that supplying needed equipment for Iran’s ports is Ports and Maritime Organization’s main priority, adding that the first line of credit (LC) valued $170 million was opened and four other LCs are to be opened for a European company.

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