INSEAD Day 4 - 728x90

BYD logs record EV sales in 2025

It sold 2.26m EVs vs Tesla's 1.22 by Sept end.

Google to invest $6.4bn

The investment is its biggest-ever in Germany.

Pfizer poised to buy Metsera

The pharma giant improved its offer to $10bn.

Ozempic maker lowers outlook

The company posted tepid Q3 results.

Kimberly-Clark to buy Kenvue

The deal is valued at $48.7 billion.

Iran to sign long-term contract with India on Chabahar Port

Mehrdad Bazarpash, Iranian Minister of Roads and Urban Development.
  • The Iranian minister said that a long-term contract to operationalize Chabahar Port will be signed with India in the near future
  • He said that in order to develop the country's transit, it is important to develop north-south corridors with a rail connection

Tehran, Iran— Iran will sign a long-term contract with India to develop Chabahar Port, according to the Islamic republic’s minister of roads and urban development.

Mehrdad Bazarpash emphasized that a long-term contract for the operationalization of Chabahar Port project with the Indians will be signed in the near future.

He made the remarks at a ceremony at the Iranian Ports and Maritime Organization (PMO) compound in Tehran held to commemorate the World Maritime Day on Tuesday evening.

“We have 1800 km of coastline in the south of the country, apart from the islands, which encompasses four provinces,” he said in his address to the participants in the ceremony, adding that, “Iran is the land of logistics and transit opportunities. In fact, Iran is both a transit way and a solution for world transit.” 

The road minister continued, “In order to develop Iran’s transit, it is necessary to develop north-south corridors with a rail connection and then a road between the north sea and the south Sea.

Bazerpash went on to say that, “In the next three months, with the opening of the Rasht-Caspian railway, Shahid Rajaei port [in Chabahar] will be connected to the north sea and the Caspian ports.”

Emphasizing that, “We have no choice but to complete the Chabahar-Zahedan-Yonsi-Birjand-Sarkhas railway line,” he added, “The long-term contract for the operationalization of Chabahar with the Indians will be signed soon.”

The minister also said transporting goods by rail should be prioritized, declaring that, “We will complete the Ro-Ro rail wharf of Amirabad port within a year.”

Bazarpash said, “We are willing to hand over different parts of the port construction to the domestic or foreign private sector after observing the regulations.”

He added, “We should go towards the development of coastal towns and build 27 coastal towns along the southern coast as a necessity. Meanwhile, large transport companies should also move towards combined transport.”

Bazerpash concluded, “Maritime economy can generate wealth for future generations as much as oil.”