May 2016, Vol. 243, No. 5

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Iran, India Sign Port Deal, Other Economic Agreements

TEHRAN, Iran (AP) — India said Monday it will invest up to $500 million in a deal to develop a strategic port in Iran and both countries planned a number of projects they say are worth hundreds of millions of dollars. The deal and plans were announced during a visit by Indian Prime Minister Narendra Modi, the first such trip in more than a decade. In a ceremony marking the agreements, Modi said the bilateral agreement to develop Chabahar, in southern Iran, and the “availability of about $500 million from India for this purpose is an important milestone,” in relations between the two countries. The development of the port of Chabahar expands a trade route for the land-locked co

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