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India to export rails worth $150 million to Iran in July

17 Jun 2016 Evaluate

In a bid to develop railway and other infrastructure at strategically important Chabahar port, Indian steel companies will export rails worth $150 million to Iran in July. The maiden consignment of rails will be shipped by steel companies. Both the countries have deliberated on taking further the historic pact between the nations on the strategic Chabahar Port in southern Iran which will give India access to Afghanistan and Europe bypassing Pakistan.

Moreover, railway PSU IRCON will build a rail line at Chabahar to move goods right up to Afghanistan. The rail links are being built so that the land-locked Afghanistan can get access to the Iranian port as an alternative to the Pakistani port of Karachi.

Further, a meeting is scheduled next month between Shipping Minister and his Iranian counterpart to develop a workplan for industrial needs and investments needed for Chabahar free trade zone. The pact to develop the Chabahar port and other infrastructure was inked during Prime Minister Narendra Modi’s visit to Persian Gulf nation last month. Gadkari asserted that India would invest billions of dollars in setting up industries ranging from aluminium smelter to urea plant in Iran’s Chabahar free trade zone.

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