BAKU, Azerbaijan, Mar.5
Trend:
More than $1 billion has been invested in the development and completion of Chabahar Port due to its importance in international trade, said the deputy in Iran's Ports and Maritime Organization.
"The following investment in Chabahr ports included $370 million for development of port's infrastructure, $100 million investment of private companies, $43 million for supplying port's equipment, $413 million for constructions in ports area," said Farhad Montaser Kohsari, Trend reports citing Fars News Agency.
"Chabahr Port's development operation had 16 percent progress. India Ports Global Limited (IPGL) is one of the operators of phase 1 in the Shahid Beheshti Port and has been committed to using its resources valued at $85 million to purchase port equipment under a 10-year build-operate-transfer (BOT) contract," he said.
The volume of container traffic in Chabahar Port had 107 percent growth in the current Iranian year (started March 20, 2020)comparing to previous years.
"The Ports and Maritime Organization has imposed 100 percent discount on total costs and port's tools, the 5-day exemption for the cost of the warehouse storing transit goods and 50 percent discount for container transit costs from origin and destination, to support the development of Chabahr Port," he said.
"It is expected that the Indian operator would put the supplying of port's equipment on its priority, especially gantry cranes and RTGs based on its contract. In order to hasten the development of Chabahar Port, a wharf with proper depth for docking big ships has been constructed during the past 3 years alongside dredging, installing breakwaters, modern waterfronts," he said.