(MENAFN- Wadsam) The operations duty of Iran's strategic Chabahar port was officially handed over to India Ports Global Limited (IPGL) in a crucial trilateral meeting of representatives from India, Iran and Afghanistan in Tehran on Monday.
The IPGL has been granted the lease for temporary period of 18 months and a ten-year period afterwards.
According to India's Ministry of External Affairs, the three sides discussed full operationalization of the Trilateral Transit Agreement for international transit and transport through the Chabahar Port.
It was agreed to finalize the protocol to harmonize transit, roads, customs and consular matters.
According to Times of India, a study would be initiated for determining measures to make the route attractive, decrease logistic costs to make operationalization of the Chabahar Agreement easier.
This comes as the US exempted Chabahar Port development and import of petroleum by Afghanistan from the new sanctions imposed on Iran.
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