India has clearly announced that it has no further financial obligations remaining for the Chabahar Port project in Iran. The statement was made on Tuesday during a written reply in parliament, clarifying India’s current position on the project.
Minister of State for External Affairs Kirti Vardhan Singh informed parliament that on May 13, 2024, India Ports Global Limited signed a 10-year agreement with Iran’s Ports and Maritime Organisation. Under this agreement, India took responsibility for equipping and operating the Shahid Beheshti Terminal at Chabahar Port.
The minister further stated that India has fulfilled its financial commitment under the agreement by providing $120 million for the procurement of port equipment. According to him, this amount constituted India’s agreed investment in the project and has been fully paid.
The written statement submitted to parliament clearly noted that India has completed its commitment of $120 million for port equipment, and therefore, the Government of India has no additional financial responsibility for the project.
Following this statement, it has emerged that India does not intend to expand its financial involvement in the project further and considers its obligations fulfilled at this level.
The Chabahar Port project, under which India entered into a decade-long agreement, has now entered a phase where no new financial investment has been reported.
This development comes at a time when the importance of major infrastructure projects in the region is increasing. However, India’s decision not to commit additional funding has sparked discussion about the future financial aspects of the project.
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