India took over the operations of a part of Chabahar Port in Iran during the Chabahar Trilateral Agreement meeting held on December 24, 2018, in Iran.
The heads of Indian, Iranian and Afghanistan delegation jointly inaugurated the office of the Indian SPV – India Ports Global Chabahar Free Zone (IPGCFZ) at Chabahar. The absolute take-over of the terminal area, cargo handling equipment and the office building was completed by December 29, 2018.
1. India started interacting with Iran on Chabahar Port around the year 2003; however, the major push was received in the second half of 2014, leading to the signing of a MoU between Iran and India for the development of Chabahar Port in May 2015.
2. This MoU translated into a formal 10-year Contract for Equipping and Operating the Chabahar Port, which was executed on May 23, 2016, during Prime Minister Narendra Modi’s visit to Tehran.
3. A trilateral transit agreement was also signed on May 23, 2016, between India, Iran, and Afghanistan on Establishment of International Transport and Transit Corridor.
4. India on October 29, 2017, sent its first consignment of wheat to Afghanistan through Iran’s Chabahar port.
5. Since there was challenges inactivation of the 10-year contract, the foundation of an interim period contract was laid during the visit of President of Islamic Republic of Iran, Hassan Rouhani to New Delhi in February 2018.
6. Resultantly, a formal short term Contract was signed on May 6, 2018.