India has agreed to invest $120 million in Iran's Chabahar Port project, Iranian Ambassador to India, Iraj Elahi has revealed.
The $120 million investment is for the Shahid Beheshti Terminal of the Chabahar Port.
Moreover, he emphasized that India has opened a $250 million credit line for infrastructure development in Iran's southeast.
"India has agreed to open a credit line for about USD 250 million for the implementation of infrastructural projects in the southeast of Iran. Besides this, according to the Chabahar port contract, India has accepted to invest USD 120 million. Besides this, we are witnessing that the attention of Indian investors toward Iran is increasing," Iran's Ambassador to India, Iraj Elahi was quoted as saying by Indian news agency.
Earlier this year, India and Iran signed a 10-year agreement wherein the former will operate the Chabahar Port.
Under the terms of the deal, India Port Global Limited (IPGL) would run the Chabahar Port's cargo and container terminals for ten years.