The India Ports Global Chabahar Free Zone (IPGCFZ) an SPV of Indian Ports Global Ltd. in Iran has taken over interim operation of the Chabahar Port w.e.f. 24.12.2018. The details of the funds allocated, released and utilized for the purpose during the last two years are as follows:-
A MoU between IRCON and Construction, Development of Transport and Infrastructure Company [CDTIC] of Iran for construction of Chabahar-Zahedan rail project was signed during PM’s visit to Iran on 23 May 2016. As per the Joint Statement released by MEA dated 17 February 2018 during Iranian President’s visit to India (15-17 February 2018), India conveyed its readiness to support the development of Chabahar- Zahedan Rail line.
Minister of State in the Ministry of Shipping Shri PonRadhakrishnan gave this information in reply to a question in Lok Sabha today.