After Chabahar, India eyes Bangla’s Payra port

The Dollar business Bureau

After striking the significant Chabahar Port deal with Iran, India is in discussions with Bangladesh to set up a port in Payra.

The shipping ministry, on Friday, revealed that India Ports Global, a joint venture between JNPT and Kandla Port for international ports, is interested in the construction of Payra port.

The talks between the Foreign Ministries of the two nations have begun, said Union shipping minister Nitin Gadkari while adding that a team has also been sent to Dhaka for research and study the port area. However, he did not disclose the location of the port.

The remarks of setting up a port in Bangladesh came in days after New Delhi bagged the Chabahar port deal with a commitment of $500 million, which will help to meet the interests of India in the Gulf nation which is now free of sanctions.

According to certain reports, China expressed deep interest to build the Payra port in February. However, Dhaka stepped back and instead gravitated towards India for the port.

Contrary to the previous regime’s ‘Look East’ policy, the Narendra Modi government believes in ‘Act East’ policy. Plans to build maritime infrastructure with Bangladesh is apparently a part of ‘Act East’ approach. Gadkari further stated that instant benefit of building Chabahar Port will be reflected through inexpensive availability of gas, which may reduce the urea subsidies by Rs 45,000 cr.