New company set up to speed up Chabahar Port's development

The government on Wednesday said that it has formed a company, Inter-Ports Global Ltd, to speed up the development of Iran's Chabahar port in which India is a partner.

The decision was taken at a Union Cabinet meeting, chaired by Prime Minister Narendra Modi.

Union Minister Prakash Javadekar said that in order to bring in experts for the development of Chabahar, IPGL is exempted from the guidelines of the Department of Public Enterprise.

Briefing media briefing after the Cabinet meeting here, he said: "We have a sea port in Chabahar... In order to speed up the process of development of the port, we plan to set up 8 cranes."IANS