Chabahar: India Ports Global signed a 10-year contract for the Shahid Beheshti Terminal in Iran

Background

This item explains India's long-term stake in Chabahar, the Iranian port in the news as the Gulf of Oman and Hormuz shipping lanes are disrupted. India Ports Global Limited (IPGL) and the Ports and Maritime Organisation of Iran signed a 10-year contract for the Shahid Beheshti Terminal at Chabahar Port in Tehran on 13 May 2024. Indian Shipping Minister Sarbananda Sonowal and his Iranian counterpart Mehrdad Bazrpash witnessed the signing. IPGL will invest about $120 million to equip the port, and India offered a rupee credit line equivalent to $250 million for jointly identified infrastructure projects at Chabahar. Sonowal said the deal "had laid the foundation for India's long-term involvement" in the port.