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Iran urges India to invest in its infrastructure projects

By Religare
|

The Iran Government has said that India should invest in Iran's infrastructure projects worth USD 8 billion and take advantage of the period ahead of lifting of sanctions against the country, media reported.

Commenting on the issue, Iranian Ambassador Gholamreza Ansari told the media, "India should take advantage of the time before the western countries start making their investments after lifting of sanctions in the next 3-5 months."

"India has always been there even during the difficult time of sanctions. They should take advantage of their presence on the ground. Otherwise it will be a lost opportunity," he added.

 

The two countries signed a USD 85 million deal in May this year to develop the Chabahar port in Southeast Iran. India's Shipping Minister Nitin Gadkari and his Iranian counterpart Abbas Ahmad Akhoundi signed the deal for India to lease two existing berths at the port and use them as multi-purpose cargo terminals.

Under the new proposal, India can construct second and third terminals at the port as well as railway connections into the rest of Iran.

Story first published: Monday, July 27, 2015, 12:40 [IST]
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