Indian companies have announced plans to invest $85 million into the Iran’s port of Chabahar which will be set up on a build-operate-transfer (BOT) model, said a report.

Once operational, the port will increase its goods handling capacity from two million tonnes to eight million tonnes
following an additional investment of $150 million by Indian firms, reported Iran Daily News.

Based on the BOT contract, Indian firms will have to hand over all the equipment to Iran after 10 years, stated the report, citing Mohammad Saeednejad, managing director of Ports and Maritime Organization

Saeednejad further noted that the total investment will be provided by the Indian firms over an 18-month period.