India to invest in development of Iranian port of Chabahar

India signed an agreement with Iran develop the Iranian Port of Chabahar. Indian media reported that the agreement signed by Prime Minister Narendra Modi will allow the country to develop and operate two multipurpose terminals and five berths in the Port of Chabahar for the ten-year period.

Besides, India's Ex-Im Bank and Ports and Maritime Organisation of Iran signed an agreement to provide $150 million funding for the port facilities development.