Chahbahar Port is a gateway to golden opportunities: Gadkari
The Dollar Business Bureau The Minister for Shipping and Road Transport & Highways Nitin Gadkari, was on a two day visit to Tehran, representing the Indian Government at the inauguration and oath taking ceremony of Hassan Rouhani as the President of Iran for a second term, on 5th August, 2017. In an interaction with Rouhani, Gadkari held wide ranging discussions on many issues including India’s cooperation in the development of Chabahar Port and proposed rail link between Chabahar & Zahedan. In the meetings, both sides positively assessed the progress in implementation of the decisions taken during the Indian Prime Minister’s visit to Iran last year, including the progress of Chabahar Port. Both sides reiterated their commitment to complete and operationalize the ...
Chabahar pact, India's access to Central Asia
The Dollar Business Bureau Chabahar port agreement with Iran will help Indian companies boost their Central Asian engagement and significantly reduce the transportation costs, said Industry Chamber FICCI on Tuesday. The industry body said that Prime Minister Narendra Modi’s outreach to Tehran had infused vigour in the development of infrastructure, connectivity and energy security goals for India. The bilateral agreement signed by Iranian President Hassan Rouhani and Prime Minister Narendra Modi, emphasises the strategic opportunities the region provides to India. India and Iran had signed an agreement for the development of Chabahar port during Modi’s visit to the Persian Gulf nation. India will invest $500 million for the development of the port. The commercial contract signed for Phase 1 development of Chabahar port will pave the ...
NALCO, IMIDRO sign MoU to set up alum smelter in Iran
The Dollar Business Bureau State-owned National Aluminium Company Limited (NALCO) and Mines & Mining Industries Development & Renovation Organisation (IMIDRO) of Iran have signed a Memorandum of Understanding (MoU) to together explore the possibility of establishing an aluminium smelter in the Islamic Republic of Iran. "NALCO has signed an MoU with IMIDRO to jointly explore the possibility of setting up an aluminium smelter in Iran, with supply of alumina from NALCO’s refinery in India," the company said in a filing with BSE. The MoU also anticipates tolling arrangement with prevailing smelters in Iran for manufacturing aluminium from alumina provided by the company, among other things. T K Chand, Chairman & Managing Director, NALCO, said, “We are looking forward to utilise the gas-based energy available ...
PM Modis Iran visit aims to double oil imports
The Dollar Business Bureau With India looking forward to beef up engagements with sanction-free energy-rich countries, Prime Minister Narendra Modi is scheduled to fly to Iran on a two-day official tour on May 22nd and 23rd. India is aiming to double oil imports from the Gulf country, which was the second largest oil supplier a few years ago. India is also bidding to obtain the rights to develop a gas field in Iran A deal to develop Chabahar ports is likely to be struck between the two countries during the official visit. The visit was planned in accordance with the invitation sent by the President of the Islamic Republic of Iran, Dr. Hassan Rouhani, to PM Modi, said Ministry of External Affairs of India. Modi is ...
Iran seeks Indian investments in Chabahar free trade zone
The Dollar Business Bureau India is looking to benefit from a sanction-free Iran through stepping up investments in energy, urban development, information exchange and infrastructure modernisation activities As part of efforts to attract funds for its infrastructure projects, Iran has asked Indian public and private firms to invest in the development of Chabahar Port and set up industrial units in a Free Trade Zone around the port. India’s External Affairs Minister Sushma Swaraj expressed the country’s willingness to take part in oil and gas exploration projects in Iran, while emphasising on the need of an early completion of all procedures for India’s participation in Farzad-B gas field. The Indian minister met Iran’s Minister of Economic Affairs and Finance Ali Tayebnia ...
