First phase of Chabahar port inaugurated in Iran

First phase of Chabahar port inaugurated in Iran

Chabahar port

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The first phase of the Chabahar port was opened today after it was inaugurated by Iranian President Hassan Rouhani

The first phase of the Chabahar port was inaugurated by Iranian President Hassan Rouhani on Sunday in the presence of representatives from several countries of the region.

The port which will open a new transit between India, Afghanistan and Iran is expected to boost trade between the three countries.

Also known as "Gateway of golden opportunities", the Chabahar port, which is easily accessible by India's Western Coast,is located in the Sistan-Balochistan province.

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The Ministry of External Affairs said that the Minister of State for Shipping Pon Radhakrishnan represented India at the inauguration of the post which wasconstructed bypassing Pakistan.

The first phase of the Chabahar port project is known as the Shahid Beheshti port.

Pakistan had been denying access to India for trade with the two countries. The Chabahar port is expected to boost the trade relations between the countries.

In an agreement signed between India and Iran in May 2017, India will equip and operate two births in the Chabahar port phase 1. India's capital investment accounts for $85.21 million, while its annual revenue expenditure is $22.95 million on a 10-year lease.

Marking opening of the new transit route, India had sent its first consignment of wheat to Afghanistan through the Chabahar port.