Tehran, May 13, 2024 – India Port Global Limited (IPGL) and Iran’s Ports and Maritime Organization (PMO) have signed a historic 10-year agreement for India to develop and operate the Shahid Beheshti terminal at Chabahar Port, marking India’s first foreign seaport management venture. Strategically located on Iran’s southeast coast, Chabahar offers India a direct trade route to Iran, Afghanistan, and Central Asia, bypassing Pakistani ports and enhancing regional supply chain resilience. The port is a vital link in the International North-South Transport Corridor (INSTC). India has invested $120 million in the port and provided a $250 million loan for infrastructure projects. This deal, secured with special election commission permission, emphasizes India’s commitment to regional development, humanitarian aid, and strengthening its geopolitical influence in Central Asia.
