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👀Chabahar Port

💬It is located on the Gulf of Oman and is only 72 km away from the Gwadar port in Pakistan which has been developed by China.
The port serves as the only oceanic port of Iran and consists of two separate ports named Shahid Beheshti and Shahid Kalantari.]

⛔️Background:

💬In May 2016, India, Iran and Afghanistan signed the trilateral agreement which entailed the establishment of Transit and Transport Corridor among them using Chabahar port in Iran as one of the regional hubs for sea transportation.

💬Construction of a rail line from Chabahar port to Zahedan, along the border with Afghanistan as an alternate trade route to Afghanistan and Central Asia, was also a part of it.

💬The state-owned Indian Railways Construction Ltd. (IRCON) signed a Memorandum of Understanding (MoU) with the Iranian Rail Ministry to provide all services, superstructure work and financing (around USD 1.6 billion).

⛔️Significance of Chabahar Port for India:

1️⃣Trade: It is being considered a gateway to golden opportunities for trade by the three countries with other Central Asian countries in the wake of Pakistan denying transit access to India.

2️⃣Security: China is aggressively pursuing its own Belt and Road Initiative (BRI) under the One Belt One Road (OBOR) project. The port can also act as a counter to Pakistan’s Gwadar Port, which is being developed with Chinese investment.

3️⃣Connectivity: In future, the Chabahar project and the International North South Transport Corridor (INSTC) will complement each other by optimising Indian connectivity with Russia and Eurasia.

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