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Wednesday, 06 December 2017

Iran Inaugurates Major Port Extension

Iranian President Hassan Rouhani inaugurated a newly built extension of the Chabahar Port on December 3 2017, according to Yahoo.

The port, located on the Gulf of Oman, is Iran's main Arabian seaport and holds strategic importance for trade in the region.

The $340 million extension project more than triples the port's capacity, bringing the capacity of the port to 8.5 million tons of cargo annually, from the previous 2.5 million tons.

It includes five new piers, two of them for containers allowing cargo vessels with up to 100,000-ton captaincy to dock.

The extension is expected to make Chabahar, Iran's closest sea link to the Indian Ocean, a rival to Gwadar Port in Pakistan. Located some 80 kilometers away across the border, the nearby port is being constructed by Pakistan using Chinese investment.

However Rouhani downplayed the rivalry in his inauguration speech.

The port will bring "more engagement and unity" among regional countries, he said.

"We should go after positive competition. We welcome other ports in the region, we welcome Gwadar's development."

The expansion of the port also highlights India's strengthened trade ties with Iran, which were kick-started when India pledged it would invest US$500 million to develop the Chabahar Port in May, 2016.

December 5, 2017 by Porttechnology

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