{"id":288654,"date":"2024-06-02T07:02:36","date_gmt":"2024-06-02T07:02:36","guid":{"rendered":"https:\/\/www.thetruthseeker.co.uk\/?p=288654"},"modified":"2024-06-03T07:21:52","modified_gmt":"2024-06-03T07:21:52","slug":"india-inks-10-year-deal-to-operate-irans-chabahar-port","status":"publish","type":"post","link":"https:\/\/www.thetruthseeker.co.uk\/?p=288654","title":{"rendered":"India inks 10-year deal to operate Iran\u2019s Chabahar port"},"content":{"rendered":"<h1 style=\"text-align: center;\"><strong>Reuters \u2013 May 14, 2024<\/strong><\/h1>\n<p>India signed a 10-year contract with Iran on Monday to develop and operate the Iranian port of Chabahar, the Narendra Modi-led government said, strengthening relations with a strategic Middle Eastern nation.<\/p>\n<p>India has been developing the port in Chabahar on Iran\u2019s south-eastern coast along the Gulf of Oman as a way to transport goods to Iran, Afghanistan and central Asian countries, bypassing the port of Karachi and Gwadar in its rival Pakistan.<\/p>\n<p>US sanctions on Iran, however, slowed the port\u2019s development.<\/p>\n<p>\u201cChabahar Port\u2019s significance transcends its role as a mere conduit between India and Iran; it serves as a vital trade artery connecting India with Afghanistan and Central Asian Countries,\u201d India\u2019s Shipping Minister Sarbananda Sonowal said in Tehran, after the signing of the agreement.<\/p>\n<p>\u201cThis linkage has unlocked new avenues for trade and fortified supply chain resilience across the region.\u201d<\/p>\n<p>US State Department deputy spokesperson Vedant Patel, asked about the deal, told reporters that US sanctions on Iran remain in place and warned that Washington will continue to enforce them.<\/p>\n<p>\u201cAny entity, anyone considering business deals with Iran \u2014 they need to be aware of the potential risks that they are opening themselves up to and the potential risk of sanctions,\u201d Patel told reporters.<\/p>\n<p>The long-term deal was signed between Indian Ports Global Limited (IPGL) and the Port &amp; Maritime Organization of Iran, authorities in both countries said.<\/p>\n<p>Under the agreement, IPGL will invest about $120 million while there will be an additional $250 million in financing, bringing the contract\u2019s value to $370 million, said Iranian Minister of Roads and Urban Development Mehrdad Bazrpash.<\/p>\n<p>IPGL first took over operations of the port at the end of 2018 and has since handled container traffic of more than 90,000 TEUs and bulk and general cargo of more than 8.4 million tons, an Indian government official said.<\/p>\n<p>A total of 2.5 million tons of wheat and 2,000 tons of pulses have been shipped from India to Afghanistan through Chabahar Port, the official added.<\/p>\n<p>\u201cIt will clear the pathway for bigger investments to be made in the port,\u201d Indian Foreign Minister Subrahmanyam Jaishankar told reporters in Mumbai on Monday.<\/p>\n<p><a href=\"https:\/\/www.arabnews.pk\/node\/2509736\/world\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>India defies pressure from Washington to sign a port deal with Iran<\/p>\n","protected":false},"author":39262,"featured_media":288656,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[51],"tags":[],"class_list":["post-288654","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-Iran"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/288654","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=\/wp\/v2\/users\/39262"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=288654"}],"version-history":[{"count":1,"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/288654\/revisions"}],"predecessor-version":[{"id":288655,"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/288654\/revisions\/288655"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=\/wp\/v2\/media\/288656"}],"wp:attachment":[{"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=288654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=288654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=288654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}