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What is the importance of Chabahar port for India?

China is trying to surround India with the "String of Perils Project ". Recently, China has invested $ 46 billion (about $ 3,131 billion) for the development of Pakistan's "Gwadar Port". For this reason, India has also signed in 2015 to launch a $ 20 billion (about Rs 1,363 billion) project to develop the Chabahar port of Iran, despite opposition from the United States and China. This is a trilateral agreement which includes Afghanistan along with India and Iran.

About Chabahar port: -

Chabahar is a city in Iran and the province of Balochistan. It is a free harbor and is located on the banks of the Gulf of Oman. This is the southernmost city of Iran. Most people of this town are Baloch and speak Baluchi language. Going into history, middle-aged traveler Al-Burooni also told Chabahar the entry gate of India (from Central Asia). Chabahar means four waterfalls.

 

Importance of this Agreement for India: -

This port is very important for India, along with a lot of strategies for Iran. Through this, the path of reaching India through the sea and road to Afghanistan will go a long way, and there will be no need for Pakistan to reach this place. On this agreement, Dr. Abbas Ahmed, Minister for Transport and Urban Development of Nitin Gadkari and Iran had signed.

This port will be used for transport of crude oil and urea. This will greatly save India's transportation costs. India's intention is to lease two docks in Chabahar for ten years. This port will be developed through a special unit (SPV), which will invest $ 8.52 million to convert it into containers terminal and multipurpose cargo terminals.

Under this project, India is not only a port, but it is also to establish other industrial units in the adjoining area. Developing Chabahar port will help India reach its reach to Afghanistan and Central Asia . India is not able to do this right now because Pakistan is not allowing India to use its land.

 

Which company will participate in India

"Global Ports Limited" (IGPPL), a company established by the Government of India, will take up the construction work of Chabahar Project. IG Petrochemicals applied for permission to set up a company to run the port. In this scheme, IG Petrochemicals will construct two new terminals, one container for vessels and one for multipurpose ships.

It is important to mention here that the Gwadar port of Pakistan is also just 72 kilometers away from Chabahar port.

In the last 20 years, 1,800 companies have been registered in Chabahar but in the last 3 years, this number has increased by 60%. Similarly, the investment has also increased. Active companies are showing interest in petrochemicals, steel, fertilizers etc. in India and are continuously taking insights on this project.

However, Indian businessmen are now trying to get the idea that it is the right time to invest in Chabahar or not because European banks are still reluctant to invest money in any Iran project. The biggest reason for this hesitation is the sanctions imposed by Iran and other countries including the United States.

Now in the news it is being heard that India is working very slowly on this project. Iran has said that if India delays, then she can seek investment from other countries including China, and she has expressed her desire in this project. Therefore, the demand for time is that the Indian government should not delay it further and should try that the project be completed within the stipulated time frame.

 

 

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