The Iran-India contract on phase 1 of Chabahar is worth $120 million, of which $85 million is being transferred, said Safaei late on Monday in a ceremony held to mark National Transportation Day, IRNA reports.
He also said that contracts for construction equipment in the port are also being exchanged.
Elsewhere in his remarks, Safaei said that senior Russian government officials had come to Tehran to discuss the International North-South Transport Corridor (INSTC).
He said the government seeks to increase the involvement of the private sector in Iran’s ports projects.
The official added that some 30 agreements and contracts had been signed with domestic and foreign private entities for works at seven ports across the country.