Mumbai: The Indian ownership structure of the proposed vehicle to invest in an Iranian port has been fixed. Mumbai’s Jawaharlal Nehru Port Trust will take a 60% equity in the Indian company to be formed for developing Chabahar port in southeastern Iran. Kandla Port Trust (KPT) will hold the remaining equity.
The special purpose vehicle is likely to be named Indian Ports Global when all documentation is completed by the end of this year.
A memorandum of understanding between the governments of India and Iran is likely to be signed in early 2015 on the development of Chabahar, something that the two countries have been discussing now for 11 years. [15/12/14]