Indian Billionaires Interested in Managing Chabahar Port
Economy, Domestic Economy

Indian Billionaires Interested in Managing Chabahar Port

India is inching closer to establishing its presence near the Persian Gulf with billionaires Gautam Adani and Essar group’s Ruia brothers flagging interest in managing terminals at Iran’s Chabahar Port, which India first agreed to develop 14 years ago.
The Bloomberg report, citing people with knowledge of the matter asking not to be identified discussing confidential matters, added that Adani Ports & Special Economic Zone Ltd., operator of India’s largest port, and Essar Ports Ltd. are among companies that have expressed interest in managing and operating two terminals at Chabahar.
India Ports Global Ltd., the company mandated to drive India’s investments in overseas ports, on March 17 invited firms to express interest if they want to be considered for a strategic partnership.
Chabahar, outside the Strait of Hormuz, has both economic and geo-political significance for India as it will provide new sea-trading routes and connectivity to Afghanistan while also countering China’s growing presence in the region.
The South Asian nation has been criticized for falling behind on developing the port even as China marches ahead with the China-Pakistan Economic Corridor that winds down to the port of Gwadar, across Iran’s border with Pakistan.
Apart from Adani and Essar, the J.M. Baxi group, known in India for its chartering, broking and other shipping services, has also shown interest, the people said.
“We keep looking at growth opportunities in the businesses that we are in,” Essar Spokesman Manish Kedia said in an emailed response to questions.
“It is not our policy to comment on any specific proposal.”
A spokesman at J.M. Baxi confirmed the company’s interest in the port, while Roy Paul, a spokesman for Adani, didn’t answer phone calls or respond to an email seeking comment.
Indian Ports Global will announce names of companies or consortia eligible to bid for the project by the end of April, following which final bids will be invited, according to the document inviting interest from firms.
Once a strategic partner is selected, a special purpose vehicle will be established at Chabahar to manage day-to-day operations, according to the document.  Construction of the terminals is nearing completion and the process to procure equipment is underway. The selected partner will manage, operate and maintain the terminals for 10 years, according to the document.



Short URL : https://goo.gl/o0A0mS
  1. https://goo.gl/eJxDkw
  • https://goo.gl/cDHXlu
  • https://goo.gl/ND8mHF
  • https://goo.gl/LAQ7lg
  • https://goo.gl/JzMT2M

You can also read ...

IMF Pledges Continued Work With Central Bank of Iran
More than a week after US Treasury Department blacklisted...
Foiling US Sanctions on Iran: The EU Blocking Regulation
The EU has announced its intention to protect European...
More Grain Shipments to Iran
For transport and logistics industry experts, spring is always...
The Sartak-Pishta border gate between the Kurdistan Regional...
The GDPR clarifies and strengthens existing individual privacy rights.
New European privacy regulations that were to go into effect...
Billet Export Prices Increase
Iranian export steel billet prices picked up in the week ended...
Volvo CE Offers €200m Worth of Mining Machinery
Volvo Construction Equipment has offered to provide Iran with...
Iranian Official: Civil Aviation to Survive US Sanctions
Iran’s civil aviation industry will survive any unfair...

Add new comment

Read our comment policy before posting your viewpoints