India to make 75m dollars of investment in Chabahar port

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Chabahar, Sistan-Baluchestan prov, May 29, IRNA : India is willing to make 75 million dollars of investment in the port city of Chabahar in this southeastern province, a local official said Sunday.

Siyavash Rezvani, who is the head of Ports and Shipping Organization in the province, told IRNA that the Indian government and investors have long before expressed interest in making investment in the port city after a project opened there to develop Shahid Beheshti jetty. However, the official added, India has started no practical job on the port yet. As for the development project of the port, he said the plan started in 2007 with a total budget of dlrs 340 million in five phases. He said once the development project is completed, Indian firms will be able to make investment on purchasing and installing the equipment needed there. According to the official, India is keen to invest in railway industry and petrochemical projects as well.