Chabahar port in Iran will be functional within 12-18 months: Gadkari

Chabahar port, located in the Sistan-Balochistan province on the energy-rich Persian Gulf nation's southern coast, lies outside the Persian Gulf and is easily accessed from India's western coast

The strategic Chabahar Port located in the Sistan-Balochistan province of Iran will start functioning within 12-18 months.

Nitin Gadkari, Union Minister of Road Transport and Highways, said, the Chabahar Port will be operational within 12-18 months. The port opens doors for business with Afghanistan and Iran, reports ANI.

Chabahar port, located in the Sistan-Balochistan province on the energy-rich Persian Gulf nation's southern coast, lies outside the Persian Gulf and is easily accessed from India's western coast, bypassing Pakistan.

''Chabahar and Kandla port not very far from each other. Earlier we followed the route through Pakistan but now we have an easy route,'' ANI quoted Gadkari as saying.

Gadkari had visited Tehran in May 2015 and both the nations had inked a pact to develop the Chabahar Port.

As per the MoU signed between India and Iran, India is to equip and operate two berths in Chabahar Port Phase-I with a capital investment of USD 85.21 million and annual revenue expenditure of USD 22.95 million on a ten-year lease.

Ownership of equipment will be transferred to Iranian side on completion of 10-year period or for an extended period, based on mutual agreement.

Besides the bilateral pact to develop the Chabahar Port, a trilateral agreement on Transport and Transit Corridor has also been signed by India, Afghanistan and Iran.

(With agency inputs)