May 6, 2015
- India went ahead with the signing of an agreement with Iran for the development of the strategically important Chabahar port which will give India sea-land access route to Afghanistan bypassing Pakistan.
- Chabahar port is located in Sistan-Balochistan Province on Iran's southeastern coast and is of great strategic utility for India which will get sea-land access route to Afghanistan bypassing Pakistan.
- India intends to lease two berths at Chabahar for 10 years. The port will be developed through a special purpose vehicle (SPV) which will invest USD 85.21 million to convert the berths into a container terminal and a multi-purpose cargo terminal.
- The availability of a functional container and multi-purpose cargo terminal at Chabahar Port would provide Afghanistan's garland road network system alternate access to a sea port, significantly enhancing Afghanistan's overall connectivity to regional and global markets, and providing a fillip to the ongoing reconstruction and humanitarian efforts in the country
- The Indian side will transfer ownership of the equipment to be provided through the investment to Iran's port and Maritime Organisation (P&MO) without any payment at the end of the tenth year.
- The Cabinet had given nod for constituting a Joint Venture or other appropriate Special Purpose Vehicle comprising the Jawaharlal Nehru Port Trust and the Kandla Port Trust.
- Approval was also given for incurring annual revenue expenditure of USD 22.95 million to support operational activities of the Indian Joint Venture.
- From Chahbahar port using the existing Iranian road network, a link up to Zaranj in Afghanistan and then using the Zaranj-Delaram road constructed by India in 2009, access to Afghanistan's Garland Highway can be made.
- This would establish road access to four of the major cities of Afghanistan -- Herat, Kandahar, Kabul and Mazar-e-Sharif.
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