The Iranian Minister of Roads and Urban Development, Mehrdad Bazarpash, has announced the upcoming launch of a joint shipping company between Iran and India. This announcement came during the signing ceremony of a contract for equipping and operating a container terminal and general cargo barges at Chabahar Port with an Indian company.
This development is seen as a positive step for both countries. The joint shipping company is expected to play a significant role in the development of the strategic eastern branch of Iran’s north-south corridor. Additionally, with the completion of the Chabahar-Zahedan railway section by the end of 2024, the Chabahar Port is expected to play an even greater role in facilitating trade and transit in the region.
The article highlights that the value of the contract between Iran and India in Chabahar has increased to $370 million. This suggests continued investment and commitment to the development of the Chabahar Port project, which aims to boost trade ties between the two nations.
Source: Maritime Gateway