The Union Minister of Ports, Shipping and Waterways, Sarbananda Sonowal, announced in a written reply to the Lok Sabha on Friday that the Government of India is committed to developing the Shahid Beheshti Port at Chabahar, Iran. This initiative involves equipping and operating the General Cargo and Container Terminal for a decade, starting from the signing of the Long Term Main Contract on May 13, 2024.
A total of Rs. 400 crore has been allocated for this project from FY 2016-17 to FY 2023-24, with Rs. 201.51 crore already utilised. The port experienced a 43% increase in vessel traffic and a 34% rise in container traffic in 2023-24. The government anticipates a significant boost in maritime trade and commercial earnings once the port is fully operational.
Additionally, a similar development agreement has been signed with Myanmar. For the fiscal year 2024-25, Rs. 90 lakhs has been allocated for the development of Sittwe port in Myanmar.
This strategic investment underscores India’s commitment to enhancing regional connectivity and trade infrastructure, promising substantial economic benefits in the near future.
