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Iran Expected to Approach Exim Bank for Chabahar $150mn Loan
September 25, 2017
Top government officials said that Iran is expected to approach Export-Import(EXIM) Bank to obtain its first tranche of $150 million loan for the development of Chabahar Port. This is according to the pact signed last year between Iran and India as per which India will equip and operate two berths in Chabahar Port Phase-I with an investment of $85.21 million and annual expenses of $22.95 million on a 10-year lease.
After the 10-year period, the ownership of the equipment will be transferred to Iran or for an additional period, depending on the mutual agreement. The development phase will start as soon as the loan is disbursed by the bank.
