Can Chinese investment provide boost to Iran’s Chabahar port?
As US-Iran ties deteriorated, India slowed down work at Iran’s Chabahar port; yet Chinese investment could bring it back to life.
Even though it had been exempted from US economic sanctions, Iran’s Chabahar port project could not take off as various indirect financial drawbacks persisted. Having direct access to the Indian Ocean, the deep-sea port has potential to become a regional trade hub and bring in considerable revenue for Iran.
Yet Chabahar’s fortunes could change soon if China enters the fray. Having finalized a 25-year partnership with Tehran recently, Beijing may invest in the development of the port and help in giving global status.
In an interview with the Tehran Times April 27, Behrouz Aghaei, director general of the Ports and Maritime Department for Iran’s Sistan-Baluchestan province, where Chabahar is located, described a much broader vision for the project, calling it the “Gate of Nations.”
Discussing the benefits of Beijing’s involvement in the port, Aghaei said, “The activity of Chinese shipping lines at Chabahar port could increase the port’s trade exchanges with the world to a very significant level.”
