INSEAD Day 4 - 728x90

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Burjeel profit nearly doubles

Healthcare demand drives stronger earnings.

Salik profit slips in H1

The company said traffic recovery supported resilience.

Alpha Dhabi profit jumps 48%

AI and technology investments boost earnings.

India keen to finalize Chabahar port development pact with Iran

Chabahar is a strategic port city in Iran's southeastern region.
  • President Raisi underlined the importance of strengthening ties with India, particularly in domains such as transit, energy, and regional security
  • He advocated for enhanced cooperation in transportation, including the North-South Corridor, and urged the swift activation of Chabahar Port facilities

Tehran, Iran – Indian prime minister Narendra Modi has expressed his eagerness to expedite the completion of the port at Chabahar, a strategic port city in Iran’s southeastern region.

Talking to Iranian president Ebrahim Raisi on the phone, Modi hailed the bilateral cooperation between the two nations and emphasized the significance of the Chabahar port, envisioning it as a regional transportation hub that could contribute to the overall prosperity of the area.

President Raisi underlined the importance of strengthening ties with India, particularly in domains such as transit, energy, and regional security. He advocated for enhanced cooperation in transportation, including the North-South Corridor, and urged the swift activation of Chabahar Port facilities to boost trade and connectivity in the region. 

Raisi highlighted the historical and cultural affinities between Iran and India as a strong foundation for further collaboration on bilateral, regional, and international levels.

Tehran has been dissatisfied with the pace of work carried out by Indian companies in Shahaid Beheshti Terminal in Chabahar.

New Delhi blames the US sanctions imposed on Iran in 2018 for the slow pace of work at the port. But the Iranians point out that India has secured a waiver from the sanctions for its specific activity in Chabahar.

Experts say increased activity in Chabahar will facilitate trade between the Indian Ocean and Afghanistan, landlocked countries in Central Asia and with Russia.

India also wants the Chabahar port included in the International North South Transport Corridor (INSTC), a sanctions-proof land-sea transportation corridor passing from Iran through over a dozen countries to Russia, Central Asia and Caucasus.