In a move spurred by China’s decision to opt into energy and infrastructure deals with Pakistan, which are worth around US$46bn, Indian Prime Minister is keen to push ahead with plans to build its port in Chabahar, Iran, despite cautions made by the US to refrain from doing business in the country, according to the American Journal of Transportation.
India’s Cabinet has recently cleared a stalling of its strategic investment plan in order to move along with the construction of Chabahar Port.
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A shipping ministry source said: “[Indian] Shipping Minister Nitin Gadkari will travel on a day-long tour to Iran to sign a memorandum of understanding for development of Chabahar port. We don’t want to miss this opportunity and will move as expeditiously as possible.”
The Indian government has also been busy with plans to transform each of its 12 major ports into a ‘smart port city’ which is expected to cost a total of $8 billion.
India has also been active in other areas such as ship recycling after recent activity by Japan to support the recycling of ships at a number of India’s recycling yards.