Breaking News : India commits huge investment in Chabahar

[ganesh623]

TEHRAN, MAY 23:

India will invest billions of dollars in setting up industries — ranging from an aluminium smelter to urea plants — in Iran’s Chabahar free trade zone after it signed a pact to operate a strategic port on the Persian Gulf nation’s southern coast.

The inking of a commercial contract to build and run the strategic port of Chabahar will help India gain a foothold in Iran and win access to Afghanistan, Russia and Europe, thus circumventing Pakistan, Road Transport, Highways and Shipping Minister Nitin Gadkari told PTI here.

“The distance between Kandla and the Chabahar port is less than the distance between New Delhi and Mumbai, and so what this agreement does is to enable us quick movement of goods first to Iran and then onwards to Afghanistan and Russia through a new rail and road link,” he explained.

“Over Rs. 1 lakh crore investment can happen in the Chabahar free trade zone,” he said.

Prime Minister Narendra Modi arrived here on Sunday on a two-day visit seeking to further cement Indo-Iranian ties and explore avenues to bolster trade in a big way in the wake of lifting of sanctions against Iran.

Iran, Gadkari said, has cheap natural gas and power that Indian firms are keen to tap to build a 0.5 mt aluminium smelter plant as well as urea manufacturing units.

“We spend Rs. 45,000 crore annually on urea subsidy and if we can manufacture it in the Chabahar free trade zone and move it through the port to Kandla and onward to hinterland we can save that amount,” he said.

Gadkari said Nalco will set up the aluminium smelter while private and co-operative fertiliser firms are keen to build urea plants provided they get gas at less than $2 per mmBtu.

Railway PSU IRCON will build a rail line at Chabahar to move goods right up to Afghanistan, he said.

Gadkari said India Ports Global Pvt, a joint venture of the Jawaharlal Nehru Port Trust and the Kandla Port Trust, will invest $85 million in developing two container berths with a length of 640 metres and three multi-cargo berths.

The Indian consortium has signed the port pact with Aria Banader Iranian.

“The contract is for 10 years and can be extended. We will take 18 months to complete phase one of the construction,” he said, adding that the first two years of the contract are grace period where India doesn’t have to guarantee any cargo.

http://www.thehindubusinessline.com...uge-investment-in-chabahar/article8636004.ece

 

[ganesh623]

LIVE! India to invest Rs 1 lakh crore in Iran's Chabahar port, bypass Pak

What the Chabahar deal means for India : Prime Minister Narendra Modi arrived in Teheran on Sunday on a two-day visit seeking to further cement Indo-Iranian ties and explore avenues to bolster trade in a big way in the wake of lifting of sanctions against Iran.

Iran, Gadkari said, has cheap natural gas and power that Indian firms are keen to tap to build a 0.5-million tonne aluminium smelter plant as well as urea manufacturing units. "We spend Rs 45,000 crore annually on urea subsidy, and if we can manufacture it in the Chabahar free trade zone and move it through the port to Kandla and onward to hinterland, we can save that amount," he said. Gadkari said Nalco will set up the aluminium smelter while private and co-operative fertiliser firms are keen to build urea plants provided they get gas at less than USD 2 per mmBtu. Railway PSU IRCON will build a rail line at Chabahar to move goods right up to Afghanistan, he said.

Gadkari said India Ports Global Pvt, a joint venture of the Jawaharlal Nehru Port Trust and the Kandla Port Trust, will invest USD 85 million in developing two container berths with a length of 640 metres and three multi cargo berths. The Indian consortium has signed the port pact with Aria Banader Iranian.

"The contract is for 10 years and can be extended. We will take 18 months to complete phase one of the construction," he said, adding that first two years of the contract are grace period where India doesn't have to guarantee any cargo.

Chabahar agreement new era for India-Iran ties, engine of growth: Nitin Gadkari


Minister for Road Transport and Highways and Shipping Nitin Gadkari has accompanied Prime Minister Modi to Iran on a two-day official visit following an invitation by Iranian President Dr. Hassan Rouhani.

As India and Iran set to sign an agreement to construct Chabahar port, Minister for Road Transport and Highways and Shipping Nitin Gadkari on Sunday said it is the beginning of a new era in the Indo-Iran relationships, which was started by former prime minister Atal Bihari Vajpayee and Prime Minister Narendra Modi is opening the gate for it.

“We should perceive the agreement as an engine of growth, and I believe it is the beginning of a new era in the Indo-Iran relationship, which was started by Vajpayeeji and Modiji is opening the gate for it,” said Gadkari, who is accompanying Prime Minister Modi to Iran on a two-day official visit following an invitation by Iranian President Dr. Hassan Rouhani.

“When Vajpayeeji was the prime minister of India, using his strategic vision, he had entered into an agreement with Iran to construct a port at Chabahar, but unfortunately for years the work remained hanging fire,” Gadkari said.


ALSO READ
PM Modi arrives in Iran; Chabahar port, energy ties high on agenda
“Under the leadership of Prime Minister Narendra Modi an agreement will be signed tomorrow (Monday), which is a great achievement for both the countries,” he added.

Elaborating on some of the benefits, Gadkari said, “Gas and electricity are cheaper in Iran, while in our country there is a shortage of gas. Naturally, steel and aluminium industries could be developed here owing to cheaper gas and power.”


ALSO READ
Cabinet clears $150 million Chabahar port project in Iran
“We can also make petroleum products here. Apart from this, there is a great demand of urea in our country, which is useful for the farmers. The government is taking up the gas price with the Iranian government, and we hope that Indian fertiliser companies could talk about producing urea here. It is a win-win situation for both the countries.” Beside this, Gadkari said, “India, Afghanistan and Iran are entering into an agreement for strategic transport development, which is also a historical development.”

“If we have to go Afghanistan, then we have to go via Pakistan, but today with the opening of a new gate, we can expand our trade from Afghanistan to Russia to Europe. This will be beneficial to both India and Iran,” he added.


ALSO READ
Indian firms to take part in Chabahar projects
“The distance between Kandla port in Kutch District of Gujarat and Chabahar, seaport in Chah Bahar in southeastern Iran, is lesser than the distance between Delhi and Mumbai, which will also increase our port business,” said Gadkari.

“Besides, we had a company with Iran, which is closed now; we will also contemplate about that. And, in time to come, there will be beginning of a new era in the field of trade and industry, which will be very useful for both India and Iran. Thus, in the economies of both the countries this agreement will be very important,” he added.

During a media briefing in New Delhi on Saturday, Joint Secretary (PAI) Gopal Baglay said: Right now, we have very specific progress. What we are talking about is India’s investment and participation in the first phase of Chabahar port, which involves development of two terminals and five berths, which have multi-cargo capacity.



“India will bring in an investment of upwards of $200 million in this regard, out of which EXIM Bank is extending a credit line of $150 million. So, right now we are talking about signing the commercial contract, which is the document, which is the culmination of the process set in the motion by signing off the MoU last year,” he said.

“The bilateral contract on development and operation by India of Phase-I of the Chabahar port will be signed between Indian Ports Global Private Ltd and Arya Banadar of Iran. Documents on EXIM Bank’s line of credit to Iran, including for the port will be signed as well,” added Baglay.




http://www.dnaindia.com/money/repor...w-era-in-indo-iran-ties-nitin-gadkari-2215502

 

[Akhill]

almost 15 billion dollars... way to go Modi ...

 

[Samrat420]

Aluminum..... Urea..... Natural gas.... No wait, how is that possible?? This is all a lie, a huge propaganda by the Iranian and Indian govt. Chahbahar was meant to export containers full of spies..

 

[JanjaWeed]

wow..this is really a great news. I hope these agreements are not just confined to MOUs. Projects on the ground needs to take off at their earliest.. There isn't much time in this ever changing geopolitical & strategic scenario.

 

[ganesh623]

PM Modi Talks 'Dosti' As India, Iran Sign Historic Chabahar Pact: 10 Facts


Here are the top 10 developments in this big story:

1. 
   
   
   • "Chabahar can become very big symbol of cooperation between Iran and India," the Iran President said after the pact was signed. PM Modi said: "India and Iran are not new friends. Our dosti is as old as history."
   • This is the first foreign port in which India is involved to this extent. The port in the Gulf of Oman on Iran's southern coast with Afghanistan will allow India to bypass Pakistan to transport goods to Afghanistan and central Asia using a sea-land route.
   • Pakistan does not allow India to send goods through its territory to Afghanistan and has only recently begun to allow a trickle of Afghan exports to cross through to India.
   • India will help develop the port and invest around $200 million to develop terminals and cargo berths at Chabahar. A 500-km railway line between Chabahar and Zahedan will also be built with Indian collaboration.
   • India's move is also being seen as a balance to China's influence in Pakistan. India wants to develop the port as a counter to Pakistan's Gwadar port, which was built with Chinese assistance and is 72 km from Chabahar.
   • PM Modi was given a ceremonial welcome this morning before his meeting with the Iran President, described by the foreign ministry as a "restricted tete-a-tete".
   • PM Modi's visit -- the first by a Indian Prime Minister in 15 years -- comes four months after the sanctions on Iran were lifted and the international community is re-engaging with the nation.
   • Connectivity, energy security and bilateral trade are on top of PM Modi's agenda. He will also inaugurate an Indian cultural festival in Iran.
   • After arriving in Tehran last evening, the PM tweeted in Persian, "Reached Iran, a land with whom India shares civilisational ties. Hope to enhance economic partnership between our nations." On Sunday evening, PM Modi addressed the Indian community and visited a Gurdwara in Tehran.
   • Before the visit, India has cleared part of its $6.4 billion oil dues to Iran
   • .http://www.ndtv.com/india-news/game...da-as-as-pm-modi-visits-iran-10-facts-1408983

 

[Ryuzaki]

Pak made a huge mistake by refusing Indian trucks to ply to Afghanistan

 

[Kompromat]

Nope, Pakistan successfully made you depend dualy on our land and sea borders. We control both ways.

Pak made a huge mistake by refusing Indian trucks to ply to Afghanistan

 

[Maira La]

almost 15 billion dollars... way to go Modi ...

And .. umm.. what about the billions ($) India owes Iran? That needs to come out of your pocket before anything else I guess.

 

[A$HU]

And .. umm.. what about the billions ($) India owes Iran? That needs to come out of your pocket before anything else I guess.

My dear Bangladeshi friend. The first tranche of the payment has already been done 2 days ago. Rest will follow soon.

 

[Viny]

Nope, Pakistan successfully made you depend dualy on our land and sea borders. We control both ways.

Gone are the days when Pakistan can hold India down for anything for any period.

 

[Kompromat]

You still are and remain to be held down by Pakistan. Your very access to Chahbahar is in our control, Modi's propaganda wing won't tell you that of course.

Gone are the days when Pakistan can hold India down for anything for any period.

 

[Skull and Bones]

You still are and remain to be held down by Pakistan. Your very access to Chahbahar is in our control, Modi's propaganda wing won't tell you that of course.

You mean, with your coast guard sized navy?

 

[Osiris]

Nope, Pakistan successfully made you depend dualy on our land and sea borders. We control both ways.

Umm, how does Pak control the sea routes ?

 

[Spectre]

You mean, with your coast guard sized navy?

A delusional enemy is better than the one with one has come to terms with reality. Why shatter this delusion?