‘Work on Iran’s Chabahar Port is progressing fast’

The work on Chabahar Port in Iran, where India will invest $500 million, is “progressing fast” and the country has already formed a global port company there, according to Union Minister Nitin Gadkari.

He was speaking at a recent launch of a road-show for the National Highways Authority of India’s (NHAI) rupee-denominated masala bonds. Gadkari had visited Tehran in May 2015 and inked a pact to develop the Iranian port. The integrated Chabahar Port will contain a Special Economic Zone (SEZ), when it eventually comes up.