Iran launches commercial port in Oman Sea

Chabahar port

Iranian President Hassan Rouhani on Sunday inaugurated a newly-built extension of the country's strategic Chahbahar Port, opening up a transit route between Iran, Afghanistan and India that bypasses Pakistan, Tolo News reported.

The extension is expected to make Chabahar, Iran's closest sea link to the Indian Ocean, a rival to Gwadar Port in Pakistan.

Under the agreement signed between India and Iran in May last year, India is to equip and operate two berths in Chabahar Port Phase-I with capital investment of Dollars 85.21 million and annual revenue expenditure of USD 22.95 million on a 10-year lease.

While India and Iran are signatories to the port development project, a second agreement on connectivity was also signed by India, Iran and Afghanistan.

It is speculated the port will still take a year to be fully functional and benefit the trio as per the plan. The Indian government has committed United States dollars 500 million to Chabahar, with an aim to join an increasingly important transport corridor to resource-rich regional countries.

With the very large investment, a full-fledged operation of the port is likely to ramp up trade between India Iran and Afghanistan and give it a strong entry into the central Asian markets.




The inauguration comes at a time when Pakistan is blocking access between India and Afghanistan. Islamabad, however, sees in this an attempt by India to use Afghanistan to destabilise Pakistan. It opens up a torrent of possibilities for India: Access to land-locked countries without Pakistan's interference; the development of the region spearheaded by India; and a royal snub to China whose clout in the subcontinent has grown exponentially.

The first part of India's construction is scheduled to be finished in 2018. Chabahar also has an global airport and Iran's Navy and Air Force have bases in the city, adding to the ports value. "We should go after competition", he said. Last year, Prime Minister Narendra Modi signed the Chabahar port development pact to develop connectivity with Afghanistan.

Alongside the ceremony, Indian, Afghan and Iranian officials held a trilateral meeting to discuss implementing the trade and transit agreement announced in May 2016.

The port will increase the capacity of loading and unloading of ships as well as the employment rate in the province, according to an official with the Sistan and Baluchestan Ports and Maritime Organisation.

Giving a boost to bilateral ties between India and Iran, External Affairs Minister Sushma Swaraj made an unannounced visit to Tehran, while returning from Sochi in Russian Federation, ahead of the inauguration of the strategically important port.

Related news:

Hot News

isis-killer-beheading-video-story-top Zuckerberg challengers now bitcoin billionaires
Dec 05, 2017 - 02:23
Bitcoin reached another new high on Sunday, crossing the threshold of a $11,826.76 a coin for the first time. Still, the twins themselves have noted that older Bitcoin aficionados probably have larger holdings.

isis-killer-beheading-video-story-top Amazon Australia has finally launched... and it's frankly underwhelming
Dec 05, 2017 - 02:21
Similarly, the ABC is reporting that Amazon Fresh , the company's online supermarket offering, will not be launched in Australia . Australian customers can now also access Prime Video and Twitch Prime , for an introductory price of US$2.99 ($4.00) per month.

isis-killer-beheading-video-story-top The best of the brilliant supermoon over Kamloops last night
Dec 05, 2017 - 02:14
The supermoon will reappear on the celestial stage on January 1 and 31, 2018, NASA said. So most full moons occur at a point on the moon's orbit anywhere but perigee.

isis-killer-beheading-video-story-top Penn State to play Washington in the Fiesta Bowl
Dec 05, 2017 - 01:44
The Nittany Lions' second straight 10-win regular season earned them a second straight berth in a prestigious New Year's Six game. The Huskies (10-2) were ranked No. 11 in the final College Football Playoff rankings while the Nittany Lions (10-2) were No. 9.

isis-killer-beheading-video-story-top Stability and strategy: Why is China so easy on North Korea?
Dec 04, 2017 - 01:33
Secretary-General Antonio Guterres is expected to brief the council, and US officials say Secretary of State Rex Tillerson is likely to attend.

isis-killer-beheading-video-story-top Rickie Fowler shoots final-round 61 to win 2017 Hero World Challenge
Dec 04, 2017 - 01:27
Woods is 10 back of leader Charley Hoffman but still in the mix for a top-10 or top-five finish at the tournament he hosts. He definitely had the Albany course figured over the first nine holes on Sunday.

isis-killer-beheading-video-story-top Stanton's Reps Receive Approval To Meet With Cardinals
Dec 04, 2017 - 01:20
Sunday, Jon Paul Morosi of MLB Network reported the Marlins indeed agreed to trade frameworks with the Giants and Cardinals. Time and time again it has been reported that Giancarlo Stanton's top choice for his next team is the Los Angeles Dodgers .

isis-killer-beheading-video-story-top New England Patriots take on the Buffalo Bills
Dec 04, 2017 - 01:13
The Bills managed four first downs and 102 yards of offence over their next six possessions before Taylor left the game. Going 70-yards in 10 plays the Patriots were able to extend their lead thanks to a Rex Bulkhead 1-yard touchdown run.

isis-killer-beheading-video-story-top Korea tensions rise ahead of US-South Korea joint military drill
Dec 04, 2017 - 01:07
News about the launch comes within days of North Korea launching a new type of intercontinental ballistic missile (ICBM). The United States has 28,500 troops in South Korea as a legacy of the 1950-53 Korean War.

isis-killer-beheading-video-story-top Alaska Airlines to investigate Randi Zuckerberg's report of sexual harassment on plane
Dec 03, 2017 - 01:38
Meanwhile, Alaska Airlines has launched an investigation and has temporarily suspended her co-passenger's travel privileges. We want our guests to feel safe.

isis-killer-beheading-video-story-top Thousands gather in Sanaa after rebel clashes
Dec 03, 2017 - 01:26
Together these groups have been fighting against the Saudi-backed forces of ousted President Abdrabbuh Mansur Hadi since 2015. Accusing Iran of helping to arm the Houthis during the conflict, the Saudi-led coalition has closed air, land and sea routes.

isis-killer-beheading-video-story-top Israeli missiles hit military position near Damascus
Dec 03, 2017 - 01:19
The incident reportedly occurred Friday night, with IDF planes attacking the Iranian base at al-Kiswah, south of Damascus. The spokesperson for the Israeli military declined to comment on reports of the attack.

isis-killer-beheading-video-story-top Nine killed as Taliban attack Pakistani college
Dec 02, 2017 - 01:06
Shehzad Akbar, medical director of Hayatabad Medical Complex, said six people died of their wounds and 18 were being treated. Local media reported that police and the army reached the site shortly afterwards and exchanged fire with the attackers.

isis-killer-beheading-video-story-top Maradona confident Argentina can qualify ahead of Nigeria
Dec 02, 2017 - 01:05
Spain were thumped 5-1 by the Netherlands while Portugal were routed 4-0 by eventual champions Germany. Other countries in the group are Iceland and Croatia .

isis-killer-beheading-video-story-top Fisher to become next coach at Texas A&M
Dec 02, 2017 - 01:04
The Houston Chronicle reported that Fisher is expected to earn between $7 million and $7.5 million over at least five years. Florida State said in its statement Friday that it would "move quickly" to evaluate candidates for the coaching position.