India has pledged more than $500 million to develop the strategically located port of Chabahar.
India is trying to make Chabahar Port in Iran operational by 2019, the government said in a statement on Friday, despite a threat of renewed US sanctions against Tehran.
The Indian-backed Chabahar port complex in Iran
is being developed as part of a new transportation corridor for land-locked Afghanistan that could potentially open the way for millions of dollars in trade and cut its dependence on Pakistan.
The port would offer easy accessibility to CIS countries, Transport and Shipping Minister Nitin Gadkari said in the statement.
US President Donald Trump's decision to withdraw from a 2015 nuclear deal and penalize financial institutions for doing business with Tehran is clouding Chabahar's viability.
© Thomson Reuters 2018