The government on Monday announced that India has taken over the operations of a part of the Chabahar Port in Iran. It is first time it will be operating a port outside its territories.
The takeover of operations was done during the Chabahar Trilateral Agreement meeting between Indian, Iranian and Afghanistan's officials held on December 24, the Shipping Ministry said in a statement.
"This step marks the beginning of a long journey. India has written history with its engagement in Chabahar and is now leading the regional cooperation and joint efforts to support land-locked Afghanistan," it said.
While India started interacting with Iran on Chabahar Port around 2003, an MoU was signed between the two countries for the development of Chabahar Port in May 2015 which was later translated into a formal 10-year contract for equipping and operating the port.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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