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India and Iran have signed long-term deal for Chabahar Port operations

Published on May 14, 2024
Current Context: On 13th May 2024, India and Iran have indeed signed a long-term deal for the operations of the Chabahar Port.
India and Iran have signed long-term deal for Chabahar Port operations
  • Here are some key details about the agreement:
    • The deal is for a period of 10 years.
    • India has been developing the strategically important Chabahar port, which is close to Iran’s border with Pakistan.
    • The port opens a transit route for Indian goods and products to Afghanistan and Central Asia, avoiding the land route through Pakistan.
    • The Indian Ports Global Limited (IPGL) and the Port & Maritime Organisation of Iran signed the deal.
    • Under the agreement, IPGL will invest about $120 million with an additional $250 million in financing, bringing the contract’s value to $370 million.
    • India’s Foreign Minister S Jaishankar said the deal "will clear the pathway for bigger investments to be made in the port".

Question:

Q.1 Which Indian company signed the deal with the Port & Maritime Organisation of Iran for the operations of the Chabahar Port?
a. Reliance Ports
b. Adani Ports
c. Indian Ports Global Limited (IPGL)
d. Essar Ports
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