Iran to handover Chabahar port to Indian firm for operation in a month: Iranian Minister
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Indus Pakistan
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For the 999th time. Good luck !
Serious Carrey
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https://timesofindia.indiatimes.com...bahar-payment-window/articleshow/65712534.cms
India, Iran quietly work on Chabahar payment window
NEW DELHI: While the focus is on the 2+2 India-US dialogue, an Iranian delegation is quietly operating behind
the scenes in Delhi to work out a payment mechanism for the strategically important Chabahar port, besides
showing interest in buying railway and heavy engineering equipment from India.
Discussions are underway to rope in UCO Bank and Bank Pasargad for a payment mechanism that will help
circumvent US-driven sanctions against Iran - a move which can help bring down prices of crude. Significantly,
the Iranian bank recently received a go-ahead to open a branch in the country.
The Iranian team is led by transport minister Abbas Ahmed Akhoundi, who assured minister for transport and
shipping Nitin Gadkari on Thursday that Chabahar port would be handed over to India soon. "The port project was
conceived and built much before the sanctions," Gadkari told TOIafter the meeting.
One of the first tests facing Chabahar, which is seen as a gateway to Afghanistan, is the Iran government's
insistence on a $3.5 million performance guarantee for the commencement of interim operations at the port. Indian
authorities have sought an exemption from the condition arguing that it will be tough to comply in the wake of the
sanctions.
But there is another issue too - the need to provide bank guarantees to operate two berths at the port for which
equipment has been ordered. This is where a tie-up between UCO Bank and Bank Pasargad is seen to be crucial.
The partnership can be used for payment of oil purchased from Iran with paying dues for export of Indian
products such as rice and engineering goods set off. A similar mechanism was in place during the earlier US
sanctions.
The Iranian delegation also expressed its interest in buying Indian locomotives, rail and signaling systems, and
engineering goods and generators made by BHEL.
Akhoundi is scheduled to meet commerce minister Suresh Prabhu on Friday, where other trade opportunities are
expected to come up for discussions. In the past, India has been keen to export drugs and auto parts although
companies have been reluctant fearing sanctions.
One option was to get an Indian PSU to buy the products and ship them to Iran.
India, Iran quietly work on Chabahar payment window
NEW DELHI: While the focus is on the 2+2 India-US dialogue, an Iranian delegation is quietly operating behind
the scenes in Delhi to work out a payment mechanism for the strategically important Chabahar port, besides
showing interest in buying railway and heavy engineering equipment from India.
Discussions are underway to rope in UCO Bank and Bank Pasargad for a payment mechanism that will help
circumvent US-driven sanctions against Iran - a move which can help bring down prices of crude. Significantly,
the Iranian bank recently received a go-ahead to open a branch in the country.
The Iranian team is led by transport minister Abbas Ahmed Akhoundi, who assured minister for transport and
shipping Nitin Gadkari on Thursday that Chabahar port would be handed over to India soon. "The port project was
conceived and built much before the sanctions," Gadkari told TOIafter the meeting.
One of the first tests facing Chabahar, which is seen as a gateway to Afghanistan, is the Iran government's
insistence on a $3.5 million performance guarantee for the commencement of interim operations at the port. Indian
authorities have sought an exemption from the condition arguing that it will be tough to comply in the wake of the
sanctions.
But there is another issue too - the need to provide bank guarantees to operate two berths at the port for which
equipment has been ordered. This is where a tie-up between UCO Bank and Bank Pasargad is seen to be crucial.
The partnership can be used for payment of oil purchased from Iran with paying dues for export of Indian
products such as rice and engineering goods set off. A similar mechanism was in place during the earlier US
sanctions.
The Iranian delegation also expressed its interest in buying Indian locomotives, rail and signaling systems, and
engineering goods and generators made by BHEL.
Akhoundi is scheduled to meet commerce minister Suresh Prabhu on Friday, where other trade opportunities are
expected to come up for discussions. In the past, India has been keen to export drugs and auto parts although
companies have been reluctant fearing sanctions.
One option was to get an Indian PSU to buy the products and ship them to Iran.
You dont feel like singing that song today ? Chah,Chah,Chah,Chah, ....... Chahbahar
Iran to handover Chabahar port to Indian firm for operation in a month: Iranian Minister
NEW DELHI: India and Iran have political goodwill to pursue infrastructure projects and continue energy trade overcoming challenges created by US withdrawal from the nuclear deal and subsequent sanctions, suggested Iran’s Roads & Urban Development Minister Abbas Ahmad Akhoundi who was hosted in New Delhi, coinciding with the Indo-US 2+2 Dialogue.
“I met my counterpart minister Nitin Gadkari and we discussed measures on India’s role in Chabahar Port, railway project connecting Chabah ..
Read more at:
//economictimes.indiatimes.com/articleshow/65708918.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
I think its time to retire Cha cha chabar along with this song, both are going nowhere
if wishes were fishes
India would be Suppah pawah
Theparadox
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So phase-2 is going to kick off soon, Indian navy is already there making preparation.
dollars naliyon me bahte !
El Sidd
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For evacuating the workers like in Yemen?
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