Iran and India signed the long-term contract for operating the Shahid-Beheshti Port in Chabahar

India Ports Global Limited (IPGL) a state-owned company has signed a cooperation agreement with Iran to equip and operate the ShahidBeheshti Port in Chabahar.

During a signing ceremony of the contract for equipping and operation of general cargo and container terminals of ShahidBeheshti port of Chabahar on Monday, IPGL signed a cooperation agreement with the Iranian side.

The agreement was signed in the presence of Iranian Minister of Roads and Urban Development MehrdadBazrpash and Indian Minister of Ports, Shipping, and Waterways, SarbanandaSonowal.

The signing of the agreement marks a turning point in bilateral and regional trade and economic cooperation between Iran and India, as well as facilitating strategic cooperation between the two countries.

The agreement aims to operationalize the objectives of the international transport agreement in the north-south corridor, the trilateral transit agreement among Iran, India, and Afghanistan, with a focus on Chabahar port.

It also seeks to develop transit and multimodal transport cooperation between Iran and India in the Central Asia region, in line with the goals of India-Central Asia strategic cooperation.

Chabahar is Iran's largest ocean port and part of the north-south transit corridor in southeastern Iran and it is considered India's gateway to the countries of the north.