Pon Radhakrishnan updates on recent finances allocated for Operationalization of Chabahar Port

Posted by Daily Shipping Times on 07-01-2019        Tweet

NEW DELHI : The Minister of State in the Ministry of Shipping Shri Pon Radhakrishnan informed the Lok Sabha recently about the operationalization of Chabahar Port. He informed that 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:-

Financial Year

Funds Allocated

Funds Released

Funds Utilized


Rs 100 crore

Rs 100 crore

0.0025 crore




4.11 crore


Rs 150 crore


1.36 crore (till 30.09.201cool.gif

An 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 Feb. 201cool.gif, India conveyed its readiness to support the development of Chabahar- Zahedan Rail line.