The Indian government agreed to let the nation’s companies upgrade facilities at a port in Iran, despite U.S. warnings not to rush into investments in the country before a nuclear deal is completed.
Indian Shipping Minister Nitin Gadkari signed an agreement with Iranian Transport Minister Abbas Ahmad Akhoundi that will allow Indian companies to negotiate a commercial contract to lease two berths at the port. The companies will ensure that the berths can be used as container and multipurpose cargo terminals, India’s Ministry of External Affairs said in astatement late Wednesday in New Delhi.