India will invest $500 million and have singed a dozens of agreements to develop the historic Chahabar port to setup an easy access to Afghanistan and Europe circumventing Pakistan. Prime Minister Narendra Modi visited the oil-rich country and signed a landmark agreement on Monday.
The agreement were singed in presence of Iranian President Hassan Rouhani and Modi, who is the first Prime Minister to visit the Islamic nation in 15 years after Atal Bihari Vajpayee.
The trilateral agreement on linked to the Chabahar port development, was signed later by India, Iran and Afghanistan in the presence of Modi, Rouhani and Afghan President Ashraf Ghani. Prime Minister Modi says he can never forget that Iran was first country to come forward when earthquake had struck my state of Gujarat.
Chabahar port lies just 72 km from the Gwadar port in Pakistan, which is part of China’s $46 billion plan to develop China-Pakistan Economic Corridor and is aimed at opening new trade and transport routes across Asia.
